Mumbai, Sep 1 (SocialNews.XYZ) Shares of energy companies fell sharply on Thursday during the early morning trade after the government decided to hike the windfall profit tax on export of diesel and jet fuel. Shares of Chennai Petro, Adani Total Gas, ONGC, Asian Energy, and Reliance were trading more than 1.5 percent to 4 percent lower during early trade.
While, BSE Energy was down 102.51 points or 1.15 percent at 8,780.11, and Nifty Energy was down 269.65 points or 0.96 percent at 27,834.85. The government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per liter and that on jet fuel exports to Rs 9 per liter. The levy on domestically-produced crude oil to has been increased by Rs 300 per tonne to Rs 13,300. The revision comes into effect from September 1.
