Indian oil marketing firms, gas companies  to gain most from Gulf deal, Nomura says

GAIL (India)

Today 07:15

** Nomura touts Indian oil marketing companies, city gas distributors and Petronet LNG as biggest beneficiaries if Strait of Hormuz reopens, crude prices continue to ease
** Says crude could fall below $70 per barrel over the next few months if sanctions on Iran are lifted and oil flows normalise
** On Tuesday, IOC shares rise 0.27%, BPCL gains 0.13%, HPCL up 0.49%, PLNG advances 0.49%, RELI up 1.64% and ONGC up 0.88%
     
KEY STOCK IMPACT OF IRAN PEACE DEAL
Stock(s)
 Direction
Driver(s)
Pct change since Iran war began
Indian Oil IOC.NS, Bharat Petroleum BPCL.NS, Hindustan Petroleum HPCL.NS
Strong positive
Lower under recoveries
-22.5%/-11.5%/-7.5%
Petronet LNG PLNG.NS
Positive
Increased utilisation due to lower LNG price and availability of
Qatar volumes
-10.97%
Indraprastha GasIGAS.NS , Mahanagar Gas MGAS.NS and Gujarat Gas GGAS.NS 
Positive
Lower gas costs to aid margins
+0.34%/-4.2%/-1.84%
GAIL (India) Ltd GAIL.NS 
Mildly positive
Higher transmission volume; offset by negative impact on
marketing and LPG production margins
+5.11%
Reliance RELI.NS 
Mildly negative
Lower GRM partly offset by petchem cost benefit
-4.4%
ONGC ONGC.NS/Oil India OILI.NS 
Negative
Lower crude and gas realization
-11.5%/-12.9%
Source: Nomura Research

(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))