COVID-19: Bombay Oxygen shares up 256%; it doesn't even make oxygen Incorporated in 1960 as Bombay Oxygen Corporation Limited, the company is a non-banking financial company which no longer manufactures oxygen. BusinessToday.In | April 20, 2021 | Updated 22:56 IST Some of the stock market investors have picked up scarcity of medical oxygen as an opportunity to make quick gains. As India battles the second wave of coronavirus cases, few entrepreneurial minds seem to be on the look out for making the most of this adversity. While the second wave of COVID-19 cases began in February, reports about scarcity of hospital beds, medicines and medical oxygen started pouring in from across the country in April. Some of the stock market investors have picked up scarcity of medical oxygen as an opportunity to make quick gains.