Here is a list of top 10 stocks from different experts which are likely to witness a direct or

indirect impact from the rise in crude oil prices:

Analyst: Priyank Upadhyay, AVP Commodity Research at SSJ Finance & Securities Pvt

HPCL, BPCL, IOC

Oil marketing companies like Hindustan Petroleum Corporation (HPCL), Bharat Petroleum
Corporation (BPCL), and Indian Oil Corporation (IOC) will be hit by rising crude prices. OMCs
may be unable to pass on the entire rise to the end consumer as the government would not like to
increase fuel cost at this juncture.

Reliance Industries
RIL derives more than 50 percent of its profit from refining and hence benefits from rising crude
price. We believe rising crude price will improve its bottomline.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which
controls Network18 Media & Investments Ltd.)

Chennai Petroleum Corporation

Rising crude price will improve GRMs and lead to inventory gains for the company.

Analyst: Mustafa Nadeem, CEO, Epic Research

ONGC

ONGC is one of the stocks that is likely to benefit from rising crude prices. Prices also broke a
long-term declining trend and are looking healthy after a broad consolidation.

The numbers have been better as compared to previous quarters with a jump in net profit by 3
percent, a dividend of 60 percent and nine discoveries. We expect it to move higher given the
overall change in dynamics.

Oil India

Technically, prices are looking attractive as it may also give better returns in coming months.
Two recent hydrocarbon discoveries in Assam can further boost its bottomline in the coming
quarters.
Cairn India

The company is primarily engaged in oil and gas exploration. It also sells its produce to other
refineries which are from the public as well as private space. Since its pricing moves in tandem
with crude oil prices, it may continue to do well.

Analyst: Soumen Chatterjee, Head of Research, Guiness Securities

Aviation Stocks:

Rise in ATF prices will have a negative impact on operational margins of aviation stocks as fuel
accounts for almost 50 percent of the operating costs of an airline.

However, overall growth trends in the sector outpaces any such negatives. Lately, stock prices
have moved steadily higher. We recommend investors to book profits and wait for dips (5-10
percent) to re-enter.

Analyst: D K Aggarwal, Chairman, and MD, SMC Investments and Advisors Ltd

Indraprastha Gas IGL)

Key positives: Healthy profitability with strong cash generations from operations, low debt at
present with debt-to-equity ratio of 0.03:1 and comfortable working capital position.

Petronet LNG

The company has completed the ongoing expansion project at Dahej by expanding terminal
capacity to 15 mmtpa from 10 mmtpa in the last quarter of 2016.

Two storage tanks with a capacity of 1,70,000 each and regasification unit of 5 mmtpa were
added in this expansion process. The project was completed at a total cost of Rs. 1,999.10 crore
without raising any external debt.

It is in the process of further expanding capacity of the Dahej LNG terminal to 17.5 mmtpa from
15 mmtpa and has awarded the EPC contract for regasification facilities in July 2016. This
project is proceeding as per schedule and is likely to be commissioned in the first quarter of
2019.

Gujarat State Fertilizers & Chemicals

The management is considering setting up a phosphoric acid plant at Sikka to reduce the cost of
phosphoric acid, which is a key raw material for its fertiliser business. It expects to achieve
savings of $100-200/t on phosphoric acid.

The project is expected to cost Rs 1,200 crore and is awaiting the board's approval. The
management also expects 1.7-2 MT of fertiliser sales volume and EBITDA over Rs 1,800/t for
FY18.