Sr.

No.

Companies

Variable

Coefficient

Standard

Error

t-Statistic

Probability

Crude Oil

−0.0082

0.1758

−0.0469

0.9627

1

Jet Airways

Exchange Rate Market

−0.4658

0.2795

0.9440

0.3497

−0.4934

0.7992

0.6226

0.4258

C

0.0194

0.0193

1.0032

0.3179

Crude Oil

−0.0398

0.0694

−0.5726

0.5681

2

National Thermal Power Corporation

Exchange Rate

Market

−0.2743

−0.1903

0.3729

0.1382

−0.7356

−1.3777

0.4635

0.1710

C

0.0067

0.0076

0.8838

0.3787

Crude Oil

0.0772

0.0921

0.8386

0.4035

3

Oil and Natural Gas Corporation

Exchange Rate Market

−0.6762

−0.2341

0.4944

0.1832

−1.3677

−1.2783

0.1741

0.2037

C

0.0176

0.0101

1.7383

0.0848

Crude Oil

−0.0434

0.0595

−0.7288

0.4676

4

Powergrid Corporation

Exchange Rate

Market

−0.5794

−0.1779

0.3196

0.1184

−1.8129

−1.5025

0.0725

0.1357

C

0.0129

0.0065

1.9808

0.0500

Crude Oil

0.0849

0.3088

0.2751

0.7838

5

Indian Oil Corporation

Exchange Rate Market

−0.8540

−0.0636

1.6583

0.6143

−0.5150

−0.1035

0.6075

0.9178

C

0.0472

0.0339

1.3932

0.1662

Crude Oil

0.1786*

0.0719

2.4844

0.0144

6

GAIL (India)

Exchange Rate

Market

−0.5554

−0.1723

0.3861

0.1430

−1.4386

−1.2043

0.1530

0.2309

C

0.0162*

0.0079

2.0513

0.0425

Crude Oil

−0.0193

0.0991

−0.1946

0.8460