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%.
Oxygen shares, real and imaginary, rally as India battles virus surge reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.