Butterfly Gandhimathi Stocks Surge 14% on Q4 Earnings and Crude Oil Price Rally, Driving Peers TTK Prestige and Stove Kraft Higher

Kitchen Appliance Shares Rally Amid Rising Demand for Energy-Efficient Cooking Alternatives

Shares of leading kitchen appliance makers rallied sharply in Tuesday's trade, driven by strong quarterly earnings and rising investor interest in energy-efficient cooking alternatives amid elevated crude oil prices.

Butterfly Gandhimathi Appliances Ltd was the top gainer, rising 13.85% to Rs 706.50 in morning trade after the company reported a strong March quarter performance. The stock gained Rs 85.95 from its previous close. Butterfly posted a 26.69% rise in Q4 net profit at Rs 11.44 crore, while revenue rose 16.56% year-on-year.

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TTK Prestige Ltd climbed 12.03% to Rs 580.75, up Rs 62.35 from the previous session, as buying interest remained strong in kitchen appliance counters linked to the induction cooking theme.

Stove Kraft Ltd advanced 6.46% to Rs 590.50, gaining Rs 35.85 in early trade, extending gains amid expectations of higher demand for induction cooktops and electric cookware. Recent market reports have also highlighted investor interest in the stock during the LPG disruption-led demand cycle.

Bajaj Electricals Ltd was trading marginally higher at Rs 399.60, up 0.47% or Rs 1.85.

Market participants said the rally also comes as consumers increasingly explore alternatives to LPG-based cooking amid rising fuel prices. Prime Minister Narendra Modi's recent appeal for lower fuel consumption and energy-efficient lifestyles is also being seen as sentimentally positive for induction cooktop and kitchen appliance makers.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

The US-Iran conflict, now in its third month, showed little sign of easing despite a fragile ceasefire that has largely held since April 8. US President Donald Trump said on Monday that the truce was "on life support," citing unresolved differences over key conditions put forward by Iran.

Analysts said the longer the conflict drags on, the higher the risk that elevated crude prices will keep pressure on India's external balances and the rupee. Rising oil prices are expected to widen India's current account deficit, while the pressure is being compounded by weak capital inflows.

Foreign portfolio investors have pulled out more than $20 billion from Indian equities since the conflict began, with year-to-date outflows already exceeding last year's record. Preliminary exchange data showed overseas investors sold nearly $900 million worth of Indian shares on Monday alone.

Banks warn of weaker rupee, lower reserves. ANZ Bank said the combination of capital outflows and a widening current account deficit points to a weaker rupee and declining foreign exchange reserves. The bank added that the energy shock has hit India at a time when the economy was entering a cyclical recovery phase in both growth and inflation.

India is now on track for a third straight balance of payments deficit this fiscal year, prompting economists to cut growth forecasts, raise inflation projections and lower rupee estimates. ANZ last week revised its December rupee target to 97.5 per U.S. dollar from 93 earlier, while Fitch Ratings unit BMI warned the currency could weaken toward 100 if the Iran conflict escalates further.