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Stocks of smallcap oxygen producers surge, large players see profit taking

Stocks of smallcap oxygen producers surge, large players see profit taking SECTIONS Share Synopsis Shares of Linde India slipped 0.28 per cent while those of Bhagawati Oxygen rose 5 per cent, National Oxygen 2 per cent and Gagan Gases 5 per cent ETMarkets.com In the past three months, Linde India has surged 102 per cent, National Oxygen 41 per cent, Gagan Gases 46 per cent and Bhagwati Oxygen 33 per cent. Related NEW DELHI: Shares of companies that produce oxygen had a mixed show on Dalal Street on Friday, as demand for medical oxygen continued to rise. While stocks of bigger players saw profit booking, those of smaller companies hit upper circuit limits.

Covid-19: India gas maker shares jump amid shortage of life-saving oxygen

An acute shortage of medical oxygen in India, amid a deadly wave of coronavirus infections, has triggered a surge in stocks seen linked to industrial gases. Supplies of medical oxygen, essential in many cases to treat seriously ill patients, have been depleted as hospitals around India have been overwhelmed by Covid-19 cases. The nation recorded 314,835 new infections on Thursday, the world’s biggest one-day jump, and taking its case-count to almost 16 million, the second-most globally. Workers load refilled oxygen tanks into a vehicle at a refill station in Navi Mumbai, India, on Thursday, April 22, 2021. India saw a record one-day jump with more than 300,000 new coronavirus infections, marking a grim milestone for the country as a deadlier second wave showing no signs of abating.

Modi for utilising industry's full potential to meet oxygen demand

Prime Minister Narendra Modi on Friday called for utilising the industry s full potential to meet the demand of medical oxygen in the coming days, saying there is a need to increase the availability of oxygen cylinders as well as to upgrade the logistical facilities for its transportation. In a virtual meeting with leading oxygen manufacturers across the country, Modi urged the industry to utilise tankers meant to transport other gases for oxygen supply, saying the time now is not only to deal with the challenges but also to provide solutions in a very short time. Modi stressed the need to maintain good coordination between the government and the oxygen producers, according to a statement.

PM asks India Inc to step up oxygen supply, calls for united effort

Union govt has given its full strength to ensure the availability of medical oxygen