O2 cos’ stocks rally as crisis deepens

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, , 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 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.

Bhagwati Oxygen, on the other hand, has been on a choppy ride for the last one year. The stock had recorded its all-time high at Rs 21 last August, tanked to a recent low at Rs 13 about a month ago and on Monday closed at Rs 18 — up 5% on the day. , another producer of gases, has been on a one-way ride northward since last one year and closed near Rs 9 mark on Monday.

Cylinder maker, along with oxygen producers, too are seeing good investor interest with Everest Kanto up nearly 22% in the last one month to its Monday close at Rs 92.