Shares of state-run oil marketing companies were off day's high after the Finance Minister proposed an Agricultural Infrastructure and Development Cess on petrol and diesel.
Indian Oil Corporation rose 1.66% to Rs 94.85. The stock hit high of Rs 96.50 in intraday trade.
Bharat Petroleum Corporation rose 0.7% to Rs 386.55 after hitting high of Rs 398 in intraday trade.
Hindustan Petroleum Corporation fell 0.55% to Rs 217.50 after hitting high of Rs 222.35 in intraday trade.
Finance Minister Nirmala Sitharaman's Union Budget 2021 proposed an Agricultural Infrastructure and Development Cess of Rs 2.5 per litre on petrol and Rs 4 on diesel. This will be applicable from February 2. However, there would be no additional burden on the consumer overall as the finance minister also proposed to reduce Basic Customs Duty on these items.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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