Thu, Jan 21, 2021 1:10 PM
Government to raise Rs 8,000 crore by selling 26.12% stake in TCL
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Wall Street's three major indexes notched record closes on Wednesday with the benchmark S&P 500 and the Nasdaq both advancing more than 1%, after a smaller-than-expected rise in consumer inflation bolstered investors' hopes for interest rate cuts by the Federal Reserve.All three indexes hit intraday record highs with technology stocks leading the charge.
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Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand. Brent futures rose 42 cents, or 0.5%, to $83.17 a barrel, while U.S. WTI gained 43 cents, or 0.6%, to $79.06 at 0032 GMT.
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Government has cuts windfall tax on crude petroleum to Rs 5700 per tonne from Rs 8400 per tonne with effective from May 16, according to a Gazette notification.The windfall tax on diesel, petrol and ATF will continue to be nil.Windfall tax is revised every two weeks, and on May 1 during the last review, tax on petroleum crude was reduced to Rs 8,400 per tonne from Rs 9,600 tonne.
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