Shares of Reliance Industries, Chennai Petroleum and Mangalore Refinery and Petrochemicals Ltd (MRPL) shares are in focus today after the government raised the Special Additional Excise Duty (SAED) on exports of diesel and Aviation Turbine Fuel (ATF) in its latest fortnightly review. Export Duty on ATF has been raised to Rs 12.50/litre from Rs 9.50/litre effective June 16. Export duty on diesel has been increased to Rs 14 per litre from Rs 13.5 litre. The export duty on petrol remains unchanged at Rs 1.5 per litre. 

Reliance Industries, Chennai Petroleum and MRPL are engaged in the production and exports of both diesel and ATF. 

Reliance Industries shares closed 1.11% higher at Rs 1307.10 in the previous session. Market cap of the firm stood at Rs 17.68 lakh crore. 

Chennai Petroleum shares closed 6.58% higher at Rs 1211.15 in the previous session. Market cap of the firm stood at Rs 18,035 crore. 

Mangalore Refinery and Petrochemicals Ltd (MRPL) shares ended 4.97% higher at Rs 160.95 in the previous session. Market cap of the firm stood at Rs 29,610 crore. 

With effect from March 27, the Modi government introduced Export levies, Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC) on the exports of petrol, diesel and aviation turbine fuel (ATF) to ensure domestic availability of petroleum products by disincentivising exports considering the West Asia crisis.

The rates are revised on a fortnightly basis, and the last such revision was undertaken with effect from June 1. The rates are aligned on the basis of average international prices of crude oil, petrol, diesel and ATF prevailing during the period since the last review. 

Meanwhile, the Petroleum Ministry on Monday reassured the public that the country has adequate supplies of petrol, diesel, LPG and natural gas to meet current demand. Speaking at an inter-ministerial press briefing, Joint Secretary Sujata Sharma urged both citizens and businesses to use energy judiciously. She also advised large industrial and commercial consumers to procure diesel through their dedicated consumer pumps, a move aimed at easing demand pressures at retail fuel stations.