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.
Stocks such as
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
Leeden National Oxygen, CEO fined over death of lab chemist in 2015 blast Toggle share menu
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Aftermath of the fire at the laboratory. (Photo: SCDF)
03 Feb 2021 12:25PM) Share this content
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SINGAPORE: An industrial gas company and its chief executive were fined a total of S$385,000 on Tuesday (Jan 26) over safety lapses that led to the death of a laboratory chemist in an explosion at its Tanjong Kling premises in 2015.
Leeden National Oxygen was fined S$340,000 for failing to take measures to ensure the safety and health of its employees at work, while Steven Tham Weng Cheong, 69, was fined S$45,000 for a similar charge. Both paid the sum in full.
Market Movers: HCL Tech, Tech Mahindra, Infosys rally up to 5%; 17 stocks flash ‘buy’ signal
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As many as 25 components in the Sensex pack ended the day in green with HCL Technologies gaining the most.
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In the broader market, the BSE Smallcap and Midcap indices underperformed largecaps.
NEW DELHI: Shares of Shipping Corporation of India got traction on Tuesday after reports that the government has invited bids for privatising the state-run company this week. On the other hand, midcaps managed to outpace smallcaps and largecaps in the broader market.
Overall, the benchmark equity indices resumed their upward journey due to buying in IT, banking, engineering and telecom counters. The 30-share BSE Sensex closed nearly 453 points, or 0.99 per cent, up at 46,006. Similarly, the NSE Nifty index gained 138 points, or 1.03 per cent, to 13,466.