Jefferies

Stock Market Today- Oil and Natural Gas Corporation (ONGC) share price has rebounded more than 10% since its June lows. The gains in ONGC share price is despite softness in crude prices..  The government recently had also reduced windfall tax on domestically-produced crude oil to ₹3,250 per tonne from ₹5,200, with effect from Saturday. The Brent prices that had passed $90 a barrel levels in April however are close to $80 levels now. However with the adjustment of wind fall tax by the government in line with the movement in crude prices, the impact on net realizations of upstream oil…