Vedanta shares rise 4% after royalty cut on crude oil
pre-market1 source ↓written by the desknot a recommendation
- to ₹310
- 4%
- standard deduction
- 15%
- field royalty
- 16.67% to 10.6%
Shares of Vedanta surged 4% to ₹310 on the BSE following the government's royalty reduction on crude oil and natural gas production. The Ministry of Petroleum and Natural Gas announced a standard deduction of 15%, lowering Vedanta's Rajasthan field royalty from 16.67% to 10.6%. This move is expected to enhance domestic exploration and production activities.
Not investment advice. For informational purposes only.