Reliance Industries shares zoom 4% in early trade, here’s why
Reliance Industries stock gained 4.26 per cent to Rs 2,545 against the previous close of Rs 2,441.20 on BSE.
Shares of Reliance Industries Ltd (RIL) gained over 4 per cent in early trade today after the government cut a windfall tax on diesel and aviation fuel shipments by Rs 2 a litre. The government also cut the tax on domestically produced crude to Rs 17,000 a tonne, effective July 20.
Reliance Industries is a major exporter of fuel and is also engaged in the domestic production of crude.
Mukesh Ambani-led Reliance Jio gained a huge 31 lakh mobile subscribers in May, which also led to strong buying sentiment around the stock today.
Shares of Reliance Industries gained 4.26 per cent to Rs 2,545 against the previous close of Rs 2,441.20 on BSE. The stock was the top gainer on ...