Kitchen Appliance Stocks Surge on LPG Shortage

New Delhi, Mar 11 (PTI) Stocks of kitchen appliance makers, including Butterfly Gandhimathi Appliances, were in the limelight on Wednesday on hopes of an increase in demand amid disruption in the supply of commercial LPG cylinders due to the West Asia crisis.

Shares of Butterfly Gandhimathi Appliances zoomed 14.69 per cent, Stove Kraft Ltd jumped 11.74 per cent, TTK Prestige jumped 10.37 per cent and Jaipan Industries climbed 4 per cent BSE.

These firms deal in appliances like induction cooktops and electric rice cookers.


However, the stock of food delivery players fell, with Swiggy down 3.36 per cent and Eternal down 1.02 per cent.

Shares of United Foodbrands lost 2.45 per cent, Jubilant FoodWorks, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, dropped 1.87 per cent, Sapphire Foods India fell by 1.33 per cent and Restaurant Brands Asia edged lower by 0.66 per cent.

Manpreet Singh, Honorary Treasurer of the National Restaurant Association of India (NRAI), told PTI that many establishments in Delhi are not receiving regular LPG supplies, with several of them shifting to alternatives like piped natural gas and induction cooking.

He said restaurants are promoting dishes that require less gas or are cooking larger quantities using induction appliances.