Shares of TTK Prestige surged more than 10% in early trade on Thursday after a sudden LPG supply crunch in India triggered a sharp rise in demand for electric cooking alternatives such as induction cooktops.
As of 9:32 AM IST, the stock traded sharply higher after opening at ₹585.00. It touched an intraday high of ₹613.50 and a low of ₹571.45, compared with the previous close of ₹535.45. Trading activity also spiked, with volumes reaching 12,75,284 shares in early deals.
LPG supply fears trigger demand for electric cooking
The surge in kitchen appliance stocks comes after tensions in the Persian Gulf disrupted gas flows. Iran claimed responsibility for destroying two oil tankers near Iraq and effectively shutting the Strait of Hormuz, one of the world’s most critical energy transit routes.
According to brokerage CLSA, LPG is currently the most vulnerable product in India’s energy import chain. The firm warned that the country could face acute shortages over the next 3–4 weeks, with alternative supply sources unlikely to stabilize the market before the end of April.
Induction cooktops selling out in many cities
The supply shock is already showing up in retail markets. Restaurants, hotels, dhabas and households across several cities are reportedly rushing to buy electric cooking equipment as a substitute for LPG.
Retailers say induction cooktops, electric rice cookers and hot plates are rapidly selling out across multiple outlets as businesses look for immediate alternatives to gas-based cooking.
Companies with strong electric kitchen appliance portfolios are therefore witnessing a sudden spike in demand.
Also read: Eternal shares fall nearly 4% as LPG shortage raises concerns over restaurant shutdowns.