₹1.5 lakh cr wiped off Reliance's market value as govt raises export duty on fuel

Nearly ₹1.5 lakh crore has been wiped out from the market capitalisation of Reliance Industries after its stock declined as much as 8.7% on Friday, marking its biggest intraday drop since November 2, 2020. The shares fell after the Centre raised export duty on fuel. ONGC shares also plunged by 12.3% on Friday, its biggest slide since March 23, 2020.