TTK Prestige, Stove Kraft surge up to 15% as LPG shortage fuels induction cooktop demand

Shares of kitchen appliance manufacturers surged sharply on Wednesday, with TTK Prestige , Stove Kraft and Butterfly Gandhimathi Appliances climbing as much as 15% intraday, as investors rushed to price in a potential spike in demand for electric cooking appliances such as induction cooktops.

The rally came amid growing concerns about disruptions in liquefied petroleum gas (LPG) supply, which has prompted both households and commercial establishments to explore alternative cooking options.

TTK Prestige and Stove Kraft emerged among the biggest gainers in the segment, while Butterfly Gandhimathi Appliances also posted strong gains during the session. The surge in these stocks stood out even as the broader market traded under pressure, weighed down by declines in financials and automobile shares.

Why are kitchen appliance stocks suddenly in focus?

The surge can be attributed to a spike in demand for induction cooktops and electric kettles, products that form a core part of the portfolio of companies such as TTK Prestige, Stove Kraft and Butterfly Gandhimathi.

Retailers and e-commerce platforms have reportedly seen a sharp increase in orders for induction cooktops as consumers look for alternatives to LPG-based cooking. The sudden spike in demand has prompted investors to speculate that appliance makers focused on kitchen products could see a near-term boost in sales.

Unlike diversified electrical companies, these firms derive a major share of revenue from small kitchen appliances and cookware, making them more direct beneficiaries of any increase in demand for electric cooking equipment.

Diversified electrical firms such as Bajaj Electricals and Havells India did not witness similar gains, as kitchen appliances form only a small portion of their overall revenue mix. Their businesses are largely driven by segments such as cables, lighting, fans and switchgear.

The narrative gained further traction after Indian Railway Catering and Tourism Corporation (IRCTC) issued an advisory to catering operators at railway stations, asking them to shift toward electric cooking options such as induction cooktops and microwave ovens in view of LPG supply concerns.

While the directive primarily targets station catering units and may be a temporary operational measure, investors interpreted the move as a signal that institutional demand for electric cooking appliances could rise if fuel shortages persist.