Jaipan Industries, TTK Prestige, Butterfly Gandhimathi surge up to 20% amid LPG shortage fears

Shares of household appliance makers such as Jaipan Industries Ltd, TTK Prestige Ltd and Butterfly Gandhimathi Appliances Ltd surged in Thursday's early trade as demand for electric cooking appliances spiked amid concerns over a potential LPG shortage.

At last check, Jaipan Industries soared 20 per cent. TTK Prestige and Butterfly Gandhimathi Appliances gained 6.59 per cent and 5.03 per cent, respectively. Other related stocks such as EPACK Durable Ltd, Bajaj Electricals Ltd and Stove Kraft Ltd were also trading higher, rising 1.66 per cent, 1.67 per cent and 1.24 per cent, respectively.

The rally in these counters comes as induction cooktops and other electric cooking appliances have reportedly gone 'sold out' on quick commerce platforms, indicating panic buying among consumers amid concerns over potential LPG supply disruptions.

Consumers are increasingly turning to induction cooktops, which offer a convenient and relatively cost-effective alternative to traditional gas stoves. The shift is being driven by fears of supply disruptions and rising cooking gas prices.

E-commerce platforms and retailers have reported a sharp spike in demand for electric cooking appliances. According to a Flipkart spokesperson, the platform has seen an "unprecedented surge in induction sales," with sales volumes quadrupling in the last 4–5 days compared with the preceding weeks. The surge has been particularly prominent in regions such as Delhi, Kolkata and Uttar Pradesh.

Similarly, Amazon India has reported a sharp rise in demand for such appliances. Over the last few days, sales of induction cooktops have increased by 30x, while rice cookers and electric pressure cookers are seeing a 4x increase, an Amazon spokesperson said. "Air fryers and multi-use kettles are also seeing a 2x increase in sales over a regular day. Customers are using Amazon Now to get similar products within minutes in parts of Delhi-NCR, Mumbai and Bengaluru," the person added.

Meanwhile, Indian equity benchmarks continued to decline sharply in Thursday's trade as a fresh spike in crude oil prices, triggered by renewed escalation in the West Asia conflict, weighed on investor sentiment.