#Reliance - Biggest Heavyweight of the market.. Tanking today.. What happened.. Shall we find out ?
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(1/n) Govt today announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF).
It introduced 6/L tax on petrol exports, 13/L on diesel exports. This will dent Reliance profits, of which the Oil refining business was roughly 40% in Q4.
It introduced 6/L tax on petrol exports, 13/L on diesel exports. This will dent Reliance profits, of which the Oil refining business was roughly 40% in Q4.
(2/n) The government has also announced taxes on windfall gains made by crude oil producers.
(3/n) Now with this double whammy of taxes on export & windfall gains.. there is change in leadership too
(4/n) Mukesh Ambani has stepped down as director in Jio with Akash taking the baton. Usually, this brings an element of uncertainty. Will he succeed ?
(5/n) Remember ADAG group ? Stock Markets & Investors hate moving variables
(6/n) Markets are now pricing in the fact that profit from oil was temporary due to macro economic situation (Russia war) and will reverse.
(7/n) The real cream in the retail, new energy & digital business of the entity.
(8/n) Pl note this is not a recommendation advice. Informational only blog. Retweet for more... 5 Retweets & will do another thread soon !
Regards,
@janak_lotwala
Regards,
@janak_lotwala
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