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HINDPETRO - Hindustan Petroleum News Story

₹331.35 5.6  1.7%

Last Trade - 14/10/21

Large Cap
Market Cap £4.59bn
Enterprise Value £7.97bn
Revenue £29.46bn
Position in Universe 108th / 3160

BUZZ-India's oil explorers, refiners fall as petroleum products kept out of GST

Mon 20th September, 2021 7:56am
** Shares of India's oil explorers and refiners drop 1%-3%
after the country decided not to include petroleum, diesel under
the ambit of good and services tax (GST)
    ** Indian Oil Corp Ltd  IOC.NS  falls as much 2.2%, Bharat
Petroleum Corp Ltd  BPCL.NS  slides 2.6%, Hindustan Petroleum
Corp Ltd  HPCL.NS  declines 2.7%, Oil India Ltd  OILI.NS  slips
1% and Oil and Natural Gas Ltd  ONGC.NS  loses 2.11%
    ** India's finance minister said on Friday petrol and diesel
were part of the panel's agenda to be included under GST,
however it decided not to include them  urn:newsml:reuters.com:*:nP8N2L0052
    ** Multiple reports https://www.business-standard.com/article/economy-policy/centre-states-may-discuss-early-inclusion-of-natural-gas-into-gst-fold-121090800597_1.html
 last week said the government could bring petroleum products
under GST that would benefit explorers and refiners by
simplifying their tax structure and reduce tax burden 
    ** The Nifty Energy index  .NIFTYENR  drops 0.7%
    ** India's diesel consumption slowed in the first half of
September from the previous month, staying below pre-COVID-19
levels as a pick-up in monsoon rains hit mobility and demand for
fuel from the agriculture sector  O/INDIA2 

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
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