Indian equity markets witnessed broad-based selling on Thursday, March 12, with most sectoral stocks trading under pressure and several major companies recording declines. Amid the wider market downturn, however, shares of companies manufacturing induction cooktops and household electric appliances attracted investor attention as they registered notable gains.
Despite the overall market weakness, shares of companies including TTK Prestige, EPACK Durable Limited and Stove Kraft posted b advances during afternoon trading. The gains were largely driven by a sudden increase in demand for induction cooktops.
Shares of several household appliance manufacturers rose on the BSE during Thursday’s session. EPACK Durable Limited gained around 6 percent, with its share price reaching approximately ₹281.
TTK Prestige recorded the sharpest rise among the companies. The stock surged more than 14 percent to around ₹611. Shares of Stove Kraft also climbed by about 12 percent during the session.
The gains in these stocks occurred even as the broader market remained under selling pressure and multiple sectors traded lower.
According to media reports, supply disruptions in commercial LPG have emerged in several cities. Reduced availability of gas cylinders has created operational challenges for hotels, roadside eateries and small businesses in certain locations.
In response, users have begun shifting toward induction cooktops as an alternative to gas-based cooking. The devices operate on electricity and do not depend on LPG, making them an immediately accessible option in situations where gas supply is constrained. This shift has led to a sharp increase in demand for induction cooktops.
Quick commerce platforms including Blinkit, Swiggy Instamart and Zepto have reported a surge in purchases of induction cooktops. According to these platforms, demand for the devices has risen multiple times over the past few days.
Several models are being offered with heavy discounts and promotional offers, which has contributed to higher consumer purchases. In multiple cities, customers have begun ordering induction cooktops immediately as an alternative to gas cylinders. The increased demand has directly influenced the share prices of companies manufacturing such appliances.
Demand for induction cooktops has not been limited to households. Small hotels, restaurants and roadside eateries have also started adopting the devices due to gas shortages.
For many small businesses, induction cooktops provide an accessible option because they can be used immediately and do not require LPG cylinders. As a result, demand for these appliances has increased sharply, supporting gains in the shares of companies associated with their production.
According to brokerage firm ICICI Securities, the changing demand pattern could benefit certain household appliance companies.
These include TTK Prestige, Stove Kraft and Bajaj Electricals, which manufacture induction cooktops and other kitchen appliances. Higher demand for these products could directly benefit these companies. Contract manufacturing companies may also gain from this trend.
Companies such as EPACK Durable and Elin Electronics Limited manufacture household appliances for multiple brands. An increase in market demand for induction cooktops may result in higher order volumes for such manufacturers, potentially increasing their production and business activity. Investors have also shown interest in the shares of these companies.
According to the brokerage firm, the current rise in demand for induction cooktops may partly reflect panic-driven purchases.
When the supply of a commodity is suddenly disrupted, consumers tend to seek immediate alternatives. In the present situation, induction cooktops have emerged as an accessible option. However, if LPG supply normalizes soon, demand may gradually stabilize.
Experts have also indicated that if LPG supply disruptions persist for a prolonged period or if gas prices remain elevated, demand for induction cooktops could rise on a more sustained basis.
Induction cooktops are already regarded as energy-efficient and safer cooking alternatives. As a result, many households have begun using them alongside LPG as an additional cooking option.
