Butterfly Gandhimathi Shares Surge Up to 14% Amid Market Volatility

Global Gas Crisis Fuels Demand Surge for Induction Cooktops in India

The global gas crisis, triggered by Middle East tensions, has led to a sudden spike in demand for alternatives like induction cooktops in India. Shares of Stove Kraft, TTK Prestige, and Butterfly Gandhimathi surged sharply on Thursday, with Butterfly Gandhimathi soaring 14% to its intra-day high of ₹674.20, Stove Kraft jumping 6.4% to its day's high of ₹525.75, and TTK Prestige adding 4.5% to its day's high of ₹500.

The crisis was sparked by Qatar's Ras Laffan Industrial City, the world's largest LNG facility, suffering significant damage following Iranian missile strikes. QatarEnergy, the state-run energy company, confirmed that fires caused by the strikes had resulted in "extensive damage." The facility, located 80 km north of Doha, is a major energy hub hosting several international companies.

The global supply shock has had a direct impact on India, the world's second-largest LPG importer. India uses approximately 31.3 million tonnes of LPG each year, with around 87% of this consumption occurring in the domestic sector. The remaining portion is utilized by commercial venues such as hotels and restaurants. Around 62% of the total demand is fulfilled through imports, with 85-90% of these imports coming from nations like Saudi Arabia through the Strait of Hormuz.

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The closure of the Strait of Hormuz has led to a severe disruption in LPG supplies to India, resulting in shortages and price hikes. Domestic cooking gas prices have increased by ₹60 per cylinder, while commercial LPG prices have risen by ₹114.5. Several restaurants across major cities have either run out of cooking gas or switched to limited menus requiring minimal fuel usage.