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Read More# RIL stock price fall excessive, offers good entry point: JPMorgan
# Has the derating started in Reliance stock? Sushil Choksey answers
# Govt slaps windfall tax on fuel exports, domestic crude
#Reliance 2408 -7.2%
Supports 2310, 2290 & 2235
Resistance 2475, 2635 && 2715
After the shares of Reliance Industries NSE -7.20 % (RIL) slumped around 9 per cent today on the imposition of export tax on petrol, diesel and air turbine fuel,
#RIL would have strong underlying cash flows and earnings even after paying export tax.
# Every $1 per barrel GRM impacts RIL EBITDA by $400 million
#ONGC 131 -13%
Supports 120 & 110
Resistance 140, 150 & 165
Morgan Stanley believes the windfall tax on “extraordinary” profits from the export of petroleum products will leave ONGC battered while Reliance Industries can manage the changes in a better way.
A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.
#Crude 108 to 130
