RIL, ONGC, Chennai Petrochem rally up to 11% after govt cuts windfall taxes on fuel exports
India eliminated a levy on gasoline exports and cut windfall taxes on other fuels less than three weeks after they were imposed, offering relief for the nations fuel exporters and top crude explorers. Following the update, shares of Reliance Industries (RIL) rallied more than 4 per cent to Rs 2545.05, topping Rs 17 lakh crore m-cap, before giving up partial gains. The scrip had settled at Rs 2,442.20 on Tuesday.