Hindustan Petroleum logo

HINDPETRO - Hindustan Petroleum News Story

₹331.35 5.6  1.7%

Last Trade - 14/10/21

Sector
Energy
Size
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:
nallur.sethuraman.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.