(This story originally appeared in on Apr 20, 2021)Mumbai: The shortage of oxygen for medical usage due to the ongoing healthcare crisis with a large part of it being supplied by industrial users is leading to strong buying in shares of the producers of this gas. The stocks of National Oxygen,
Linde India, Bhagwati Oxygen, Gagan Gas and some others are attracting good investor interest. The biggest producer, Inox Air Products, however, is not listed.
Along with the oxygen producers, even stocks of cylinder manufacturers like
Everest Kanto Cylinders are witnessing strong buying. In the last one month, National Oxygen has gained 42% to Rs 62 now, while Linde India is up a little over 9% to Rs 1,896. The stock has been on a strong upmove since last 11 months, from around Rs 500 level.
Oxygen companies stocks rally as crisis healthcare deepens
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Oxygen companies stocks rally as crisis healthcare deepens
TNN / Updated: Apr 20, 2021, 12:30 IST
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MUMBAI: The shortage of oxygen for medical usage due to the ongoing healthcare crisis with a large part of it being supplied by industrial users is leading to strong buying in shares of the producers of this gas. The stocks of National Oxygen, Linde India, Bhagwati Oxygen, Gagan Gas and some others are attracting good investor interest. The biggest producer, Inox Air Products, however, is not listed.
Along with the oxygen producers, even stocks of cylinder manufacturers like Everest Kanto Cylinders are witnessing strong buying.
Oxygen Shares, Real And Imaginary, Rally As India Battles Virus Surge Bombay Oxygen, National Oxygen Ltd and Bhagawati Oxygen Ltd - all tiny firms not listed on any major stock index - have surged 47 per cent or more in April.
Updated: April 20, 2021 1:47 pm 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 per cent or more in April, a period in which India s broader market has slumped 2 per cent.
Shares of companies that produce oxygen have skyrocketed on the domestic stock market. (Photo: Reuters)
Companies that produce oxygen or simply have the word in their names are witnessing a sharp rally on domestic stock markets as demand for the gas has spiked.
The development comes at a time when Covid-19 patients in the country are struggling to find medical oxygen in the middle of the second deadly wave of coronavirus infections, reported news agency Reuters.
Several reports indicate that there is an acute shortage of medical oxygen across the country and even hospitals are struggling to procure the gas which has become essential for treating some severe cases of Covid-19.
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%.