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Induction Cooker Stocks Soar Amid LPG Crisis, Experts Urge Switch

Shares of major home appliance and induction cooker manufacturers surged in early trade, with some stocks rising over 10%, as reports of potential LPG shortages sparked a spike in consumer purchases. The fear stems from India's heavy reliance on LPG imports from West Asia, with the ongoing conflict disrupting supply chains. Energy expert Abhishek Kar suggests a new campaign to incentivize urban households with induction stoves to voluntarily give up LPG to ease demand pressure. Simultaneously, the National Restaurant Association of India has advised its members to adopt fuel conservation measures and consider electric alternatives to ensure business continuity.

Key Points: LPG Shortage Fears Boost Induction Cooker Stocks, Experts Advise Switch

  • Induction cooker stocks surge over 10%
  • LPG shortage fears from Middle East conflict
  • Experts urge shift to electric cooking
  • Quick commerce offers big discounts
  • Restaurant industry advised to conserve gas
2 min read

Experts call for easing pressure on LPG demand as Induction cooker makers' shares rise

Shares of induction cooker makers surge as Middle East conflict sparks LPG shortage fears. Experts call for incentives to switch to electric cooking.

"The government should now emulate the 'Give It Up' campaign for LPG subsidy with a new 'Give It Up' campaign on LPG use. - Abhishek Kar, CEEW"

Mumbai, March 11

Shares of home appliance makers traded higher on Wednesday as e-commerce platforms witnessed a surge in purchases of electric stoves and induction cooktops amid the Middle East conflict, over reports of potential LPG shortages.

Moreover, quick commerce platforms were selling Inductions stoves at discounts of more than 50 per cent.

Butterfly Gandhimathi Appliances shares climbed about 4 per cent to Rs 630.5, hitting an intraday high in early trade on the BSE. Meanwhile, shares of V-Guard Industries logged an intraday high of Rs 326, up 3 per cent from the previous close on the same exchange.

The sharpest surge came from major induction cooktop producers. Stocks of Stove Kraft and TTK Prestige rose more than 10 per cent.

The 'Pigeon' parent firm's stock jumped 7.32 per cent to Rs 523.55 on the BSE, while shares of Prestige induction cooktop maker TTK Prestige surged 14.63 per cent to Rs 556.

Meanwhile, industry experts said that urban households should be encouraged and incentivised to cook with electric induction stoves amid the LPG crisis.

Abhishek Kar, Fellow, CEEW, said India imports about two-thirds of its LPG, with more than 90 per cent coming from countries in West Asia such as the UAE, Qatar, and Saudi Arabia.

"Invoking the Essential Commodities Act to ensure that LPG supply is prioritised for domestic cooking is an important first step. The government should now emulate the 'Give It Up' campaign for LPG subsidy with a new 'Give It Up' campaign on LPG use, targeted at households that have, or can afford, electric induction stoves. This would ease the pressure on domestic LPG demand," Kar suggested.

Urban households should be encouraged and incentivised to cook with electric induction stoves, he mentioned.

Additionally, the National Restaurant Association of India (NRAI) on Tuesday urged its membersto reduce LPG consumption by focusing on menus that require lower gas usage or shorter cooking cycles and also look at electric gadgets as alternatives for cooking wherever feasible.

"The ongoing geopolitical developments have led to severe disruption in the supply chain of commercial LPG. If the situation escalates further and availability tightens significantly, the restaurant industry may face serious operational challenges," the NRAI said in an advisory to restaurant owners across the country.

"In order to safeguard business continuity, employment, and the stability of our sector, NRAI urges all members to immediately adopt these fuel conservation and operational continuity measures," the advisory said.

- IANS

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Reader Comments

R
Rohit P
Saw the discounts on quick commerce apps and finally bought an induction stove yesterday! 🎉 It's high time. LPG prices are unpredictable, and this conflict shows we need alternatives. Hope the quality of these discounted products is good though.
A
Abhishek O
While the shift is necessary, this feels like putting the burden on urban middle-class families again. What about incentives? Subsidy on electricity for induction cooking or direct rebates on the appliance purchase would make a real difference. Just asking people to 'give up' LPG isn't enough.
S
Sarah B
Interesting to see the market reaction. TTK Prestige up 14%! But the real test is in villages and smaller towns where power cuts are frequent. Induction is a city solution for now. National energy policy needs a broader vision.
M
Meera T
My mother still swears by her gas stove for certain dishes like rotis. It's not just about affordability, it's about cooking culture. Transition will take time and better technology that suits all types of Indian cooking.
V
Vikram M
Good move by NRAI advising restaurants. Commercial LPG consumption is huge. If big hotels and dhabas start using induction for some tasks, it will have a major impact. Saving gas is a national duty in such times. 🇮🇳

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