Mangalore Refinery and Petrochemicals Ltd (MRPL) shares rose over 1.4% today following the Indian government’s announcement to remove the windfall tax on petroleum products, including petrol, diesel, aviation turbine fuel (ATF), and crude oil exports. The decision is expected to benefit the oil and refining sector significantly by boosting exports and reducing operational costs.
The removal of the windfall tax, which was originally imposed to curb excess profits amid high crude oil prices, comes as global crude prices stabilize. The move is expected to enhance the revenue and profitability of energy companies, positioning them competitively in global markets. MRPL shares were trading at ₹156.75, reflecting the market’s optimistic response to the policy change.
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