LPG price hike sparks induction cooker buying frenzy
Worried about rising LPG prices thanks to the West Asia conflict, people across India are snapping up induction cookers and other electric kitchen gadgets.
Retailers in Kolkata say sales have tripled almost overnight. Khosla Electronics saw daily numbers jump from around 40 to over 120 units since Saturday.
The sudden rush has led to stock shortages and limited availability, with electric kettles and rice cookers also flying off shelves.
Appliance company stocks are also seeing a boost
The buying frenzy isn't just emptying stores. It's boosting appliance company stocks too.
On March 10, Borosil shares shot up by 13%, Bajaj Electricals by 7%, while TKK Prestige and Hawkins also saw healthy gains.
With supply tight and demand high, availability is constrained as many consumers are seeking alternatives to gas.