How will Indian market react tomorrow? Windfall tax, RBI policy, Q4 in focus
1 year, 8 months ago

How will Indian market react tomorrow? Windfall tax, RBI policy, Q4 in focus

Live Mint  

Indian markets are closed on Tuesday on the occasion of Mahavir Jayanti. But now another key factor to impact would be windfall gains tax on domestic crude oil prices. On Tuesday, oil and gas stocks will be in focus after the government trimmed windfall gains tax on domestic crude oil to nil from ₹3,500 per tonne, while halving the levy to 50 paise per litre on diesel exports with immediate effect. In regards rupee, as per Religare Broking, importance might be given to OPEC meeting, PMI numbers, Crude Oil Inventories & RBI’s Interest Decision during the week. Lastly, the brokerage added market participants will now be looking at Crude Oil Inventories data during the week while RBI’s interest rate decision on the 6th will play the crucial decider for the pair.

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History of this topic

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
7 months, 1 week ago

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

Live Mint  

India has cut the windfall tax on petroleum crude to ₹5,700 per metric ton from ₹8,400 with effect from May 16, Reuters reported. Windfall Tax Movements The tax is revised every two weeks, and was similarly cut on May 1, only for petroleum crude to ₹8,400 a metric ton from ₹9,600. In April 2024, the windfall tax on petroleum crude …

India’s FY24 economic outlook bright, strong but global headwinds remain: FinMin
1 year, 2 months ago

India’s FY24 economic outlook bright, strong but global headwinds remain: FinMin

Hindustan Times  

New Delhi: India’s macroeconomic outlook for FY24 is “bright” on “strong” domestic fundamentals but external risks arising due to the recent war in West Asia, further tightening of interest rates by the US and vagaries of weather could adversely impact the country’s economy, Union finance ministry said on Monday. Citing the International Monetary Fund’s projection earlier this month, which upgraded …

Windfall tax on crude oil returns amid price surge
1 year, 8 months ago

Windfall tax on crude oil returns amid price surge

Live Mint  

New Delhi: The Central Board of Indirect Taxes and Customs has re-introduced the windfall tax on crude oil a fortnight after bringing it down to zero. Since India follows trade parity pricing of crude oil and petrol, producers of crude oil and refineries that sell finished products realise global prices in the local market. So windfall tax on profits of …

Indian economy likely to navigate rough global weather in 2023: Assocham
1 year, 11 months ago

Indian economy likely to navigate rough global weather in 2023: Assocham

The Hindu  

India's economy is expected to navigate rough global weather in 2023 due to resilient consumer demand, better corporate performance and abating of inflation, even as the year is likely to be full of challenges and opportunities, Assocham said on January 2. "While the global outlook seems rather tough, the Indian economy is set to stay on steady ground, helped by …

ONGC, Oil India Shares Skid Up To 20% in Two Days; What Should Investors Do Now?
2 years, 5 months ago

ONGC, Oil India Shares Skid Up To 20% in Two Days; What Should Investors Do Now?

News 18  

ONGC, Oil India Share Price: Shares of state-owned oil & gas companies, Oil and Natural Gas Corporation and Oil India were trading lower for the second straight day, falling up to 6 per cent on the BSE in Monday’s intra-day trade after the government on Friday imposed a special additional excise duty of Rs 23,250 per tonne on crude oil …

Calm before storm? What Morgan Stanley’s Ridham Desai says on market correction
2 years, 9 months ago

Calm before storm? What Morgan Stanley’s Ridham Desai says on market correction

Live Mint  

Despite a supply shock in oil, rates, currency and stocks appear to be relatively calm, said Morgan Stanley's Ridham Desai in a note, in which the brokerage has analyzed likely reasons to see if this is a calm before a storm or a new market dynamic. Historically, India's relative stock prices to emerging markets have reacted poorly to oil price …

RBI Monetary Policy October 2021 report: 10 Key Takeaways
3 years, 2 months ago

RBI Monetary Policy October 2021 report: 10 Key Takeaways

Business Standard  

The Reserve Bank of India’s biannual monetary policy report has projected 7.8 per cent growth for the Indian economy in FY23, provided the monsoon next year is normal, supply chains are restored, India has completed Covid-19 vaccination of its citizens, and there are no exogenous factors. Inflation projections: Three-month ahead median inflation expectation for urban households came down by 50 …

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