Oxygen rally in stock market: Name enough to lift shares in Covid-era
Over the past few days, India has ramped up oxygen production nationwide as supplies of the gas have fallen short and infections surge
Reuters | April 20, 2021 | Updated 14:33 IST
With Indian COVID-19 patients struggling to find medical oxygen in the middle of a second deadly wave of coronavirus infections, shares in companies that produce the gas - or simply have it in their names - are rallying. Bombay Oxygen, National Oxygen Ltd and Bhagawati Oxygen Ltd - all tiny firms not listed on any major stock index - have surged 47% or more in April, a period in which India s broader market has slumped 2%.
People Are Buying Shares Of This Company Because Of The Word Oxygen
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Oxygen shares, real and imaginary, rally as India battles virus surge
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Investors mistakenly pump up NBFC stock trying to cash in on oxygen suppliers
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Stocks such as Linde India, Bhagwati Oxygen and National Oxygen have soared over the past two weeks.
Short supply of medical oxygen has sent investors running towards shares of companies that supply the scarce commodity.
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MUMBAI: As the nation wrestled to cope with the second wave of Covid-19 infections, short supply of medical oxygen has sent investors running towards shares of companies that supply the scarce commodity in hope of making stellar returns till the crisis lasts.
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Bombay Oxygen shares jump 1.5x in a month as name works wonders
April 19, 2021
Investors get high on oxygen stocks in Covid-era
The share price of Bombay Oxygen Investments has more than doubled in the last one month and on Monday, it closed with a gain of 5 per cent at ₹24,574.85 on the BSE. The main reason behind the rally was the presence of the word Oxygen in its name despite the company having already quit the business. Even shares like National Oxygen, Bhagwati Oxygen, Linde India and Gagan Gases also hit the upper circuit on Monday, as ‘smart’ investors anticipated that demand for oxygen during Covid-19 pandemic will boost these companies in a big way. However, Bombay Oxygen has changed its name as Bombay Investments from October 3, 2018. “Bombay Oxygen trades at 23k from 10k m/m. It s pumped as oxygen manufacturing company dealing in Industrial gases on social media. Funny thing is it discontinued this business 2 yrs ago and now registered as NBFC with virtually