3 stocks that may rise along with surge in crude oil

Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let's start with the headlines first.

- LIC IPO gets Sebi approval
- India to allow foreign flights from March 27
- US, UK ban oil imports from Russia

Now lemme give you a quick glance on the state of the markets.


Asian shares rose along with US and European equity futures Wednesday, bringing some respite from the volatility sparked by Russia’s invasion of Ukraine. Inflation risks put sovereign bonds on the back foot. MSCI Inc.’s Asia-Pacific index snapped a three-day drop, helped by Japan, Hong Kong and China.

Elsewhere, the yield on 10-year Treasuries was at 1.85%. As equities took a breather, the dollar edged up 0.2% against the safe-haven yen to 115.89, and slipped 0.12% against a basket of its peers to 98.997. Oil prices rose on Wednesday as the U.S. ban on Russian oil imports and Britain's plan to phase them out by year end raised concerns of tighter global supply. Brent crude futures were up $2.17, or 1.7%, at $130.15 a barrel at 0133 GMT, after jumping 3.9% the previous day.


That said, here’s what is making news.


Shares of ONGC, Oil India and GAIL are poised for more upsides as rising crude and gas prices are expected to boost their profitability. Brent crude prices have rallied 35% in the past one month to $122 per barrel on Tuesday as economic sanctions on Russia have aggravated supply concerns.


Investors looking to earn double-digit returns from their fixed income portfolio can consider an investment in the nonconvertible debentures of Piramal Capital and Housing Finance. The NCD, listed on the Bombay Stock Exchange, has a tenure of 10 years and matures in September 2031; it could yield a return of 10.92%.


Nifty Bank Index has technically entered a bear market after falling by more than 20% from the peak on growing concerns that higher energy prices may curtail India’s GDP growth. The index slipped into the bear territory for the first time since March 2020. The near 21% fall in the bank index is sharper than the 14% drop in the benchmark Nifty 50 from the peak levels.

Indigo Airlines operator Interglobe Aviation has lost nearly 29% of its market cap within a month amid rising crude prices. Despite that, India’s largest airline by market share continues to trade at over 20% premium to the global peers. Analysts believe that being a prominent company in a growing market, the premium is justified.


NOW Before I go, here is a look at some of the stocks buzzing this morning...



Battery and flashlight maker Eveready Industries India Ltd board on Tuesday said it appointed Suvamoy Saha as the managing director for three years after promoters led by Khaitans resigned from the board.

Adani Ports and Special Economic Zone Ltd (APSEZ) has signed an agreement with Indian Oil Corp Ltd (IOCL) towards augmentation of IOC’s crude oil volumes at the Mundra port.

Amid the Russia-Ukraine war, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices, even as he said there will be no shortage of crude oil in the country.

Jet Airways will have to go through the whole certification process to get back its permit to operate - known as the Air Operator's Permit (AOP) - after the Directorate General of Civil Aviation did not approve the airline's request for an exemption from the procedure.


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