PG Electroplast, Amber Enterprises Stocks Decline 5-10% Amid Nifty Consumer Durables Weakness Due to Gas Supply Disruption

PG Electroplast Shares Plummet Amid Gas Supply Shortage Concerns

PG Electroplast shares declined by as much as 10% on Monday, pulling down other consumer durable stocks, following the company's announcement of a gas supply shortage due to maritime disruptions caused by the ongoing Middle East conflict.

As of noon, PG Electroplast shares were trading at Rs 548.35, marking a 10% decline and emerging as the largest loser in the Nifty Consumer Durables pack. Amber Enterprises, another contract manufacturer for air-conditioner brands, also fell by 5% to Rs 7,468.

The Nifty Consumer Durables index declined by 2.27%, underperforming several other sectors, as investors reacted to the potential supply disruptions flagged by PG Electroplast. The company attributed the shortage to constraints faced by vessels due to maritime navigation restrictions linked to the ongoing war in the Middle East, citing a gas supplier's communication under the Gas Sale and Purchase Agreement.

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PG Electroplast has stated that the disruption has severely constrained the availability of LPG, leading to reduced gas allocations under the contract starting March 9, 2026. The company is currently assessing whether any supply curtailment may need to be imposed on downstream customers and exploring alternative supply sources to maintain production.

The decline in PG Electroplast shares also weighed on other consumer durable and cooling appliance companies, including Blue Star (-3.9%), Whirlpool of India (-3.4%), Voltas (-3%), and Bata India (-3.3%).

Market Performance

The broader market remained under pressure, with the Sensex declining by 1,797 points (or 2.28%) to 77,121, while the Nifty slipped by 563 points (or 2.31%) to 23,886. Market breadth was overwhelmingly negative, with over 3,200 stocks declining against about 641 advancing.

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