Reliance sinks 4% as a tax returns for the behemoth

ETMarkets.comReliance Industries shares fell, wiping out more than ₹82,000 cr.Heavyweight Reliance Industries (RIL) shares dropped nearly 5% on Friday after the government reintroduced windfall taxes on diesel and ATF exports. The sharp drop in the shares of the Mukesh Ambani-led company wiped off more than Rs 88,000 crore from its market value in a single session.According to an order issued on Thursday, the government has now reversed its earlier decision to scrap such taxes, as authorities se...