Shares of TTK Prestige, Gandhi Mathi Appliances (Butterfly Gandhimathi), and Stovecraft surged by as much as 15% on Wednesday, March 11, due to a critical shortage of LPG amid conflicts in the Middle East. The supply of commercial LPG to hotels and restaurants has stopped in cities such as Mumbai, Bengaluru, and Chennai, resulting in a significant increase in the demand for induction stoves (with sales rising between 60-300%), according to reports.
Market analysts suggest that if there are ongoing LPG supply challenges, consumers might briefly transition to using induction or electric cooking appliances, which could positively impact businesses such as TTK Prestige, Stove Kraft, and Gandhimathi Appliances.
Even a brief increase in demand for induction cookers, hot plates, and electric devices can translate into a boost in sales activity.
Minor interruptions in fuel supply will lead to consumer demand shifts towards electric appliances.
(more to come)