Pigeon brand owner Stove Kraft, Prestige brand owner TTK Prestige, Crompton appliance-maker Butterfly Gandhimathi Appliances and others are well-known sellers of induction cooktops, and other alternate appliances that can be used for cooking when the supply of traditional LPG and other gas methods remains constrained.
This comes as India faces an LPG crisis. The raging war between Iran and Israel-US has led to the prolonged closure of the Strait of Hormuz, which is one of the world’s most critical energy supply chokepoints. The route is currently witnessing severe disruptions to tanker traffic as Iran continues to target vessels attempting to pass through the corridor. The situation has forced several global suppliers to issue force majeure notices on gas shipments.
Despite assurances from US President Donald Trump, the strait effectively remains closed for traffic. Iran’s Islamic Revolutionary Guard Corps has threatened to block oil shipments from the Gulf unless US and Israeli attacks stop.
Gas crisis in India
As a result of supply constraints arising from the closure of the Strait of Hormuz, gas prices have surged in India. Domestic cooking gas now costs Rs 60 more per cylinder, while commercial LPG price rose by Rs 114.5.
Supply shortages have been reported in several cities, including Mumbai and Bengaluru, with restaurants in some areas warning of potential closures due to insufficient fuel availability. Amid concerns over LPG supply disruptions, long queues were seen outside several gas agencies in cities as people waited to collect cooking gas cylinders.
IRCTC issues directive
As a result, Indian Railway Catering and Tourism Corporation (IRCTC) issued a directive to all its licensees to adopt alternate cooking methods such as microwave ovens and electric induction systems at railway food centres.
Stove Kraft shares jumped around 8%, while TTK Prestige shares rallied nearly 15% on Wednesday. Butterfly Gandhimathi Appliances meanwhile gained around 10%. These companies are likely to see higher demand, with quick commerce platforms already seeing a spike in induction cooktop sales.
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