PG Electroplast, Amber Enterprises stocks fall 5-10%; Nifty Consumer Durables hit amid gas supply disruption

PG Electroplast

• PG Electroplast shares drop 10% on gas supply concerns
• Consumer durable stocks fell due to supply disruptions.
• Middle East conflict restricts maritime routes, affecting gas supply

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Shares of PG Electroplast tumbled as much as 10 percent on Monday, dragging other consumer durable stocks lower after the company flagged a gas supply shortage due to maritime disruptions caused by the ongoing Middle East conflict.

At noon, PG Electroplast shares were down 10 percent at Rs 548.35, emerging as the biggest loser in the Nifty Consumer Durables pack. Amber Enterprises, another contract manufacturer for air-conditioner brands, also declined over 5 percent to Rs 7,468. The broader Nifty Consumer Durables index was down around 2.27 percent, underperforming several other sectors as investors reacted to the potential supply disruptions flagged by PG Electroplast.

In a stock exchange filing, the company said its gas supplier had communicated a shortage of gas under its Gas Sale and Purchase Agreement, citing constraints faced by vessels due to maritime navigation restrictions linked to the ongoing war in the Middle East. The company said the disruption has severely constrained the availability of LPG, leading to reduced gas allocations under the contract starting March 9, 2026.

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PG Electroplast added that it is currently assessing whether any supply curtailment may need to be imposed on downstream customers, while simultaneously exploring alternative supply sources to maintain production. The company said the potential impact of the shortage cannot be quantified at this stage.

The sharp fall in PG Electroplast shares also weighed on other consumer durable and cooling appliance companies. Among other losers in the segment, Blue Star fell about 3.9 percent, while Whirlpool of India declined roughly 3.4 percent. Voltas slipped nearly 3 percent, and Bata India dropped around 3.3 percent.

Building materials and home improvement-linked stocks also traded lower. Cera Sanitaryware declined about 2.8 percent, while Kajaria Ceramics fell around 1 percent.

Consumer appliance manufacturers also remained under pressure, with CG Consumer Electricals dropping about 2.5 percent, Dixon Technologies declining roughly 2.5 percent, and Havells India falling over 2 percent. V-Guard Industries also slipped about 2 percent.

Jewellery retailer Kalyan Jewellers and watchmaker Titan Company also traded lower during the session.

The weakness in consumer durable stocks came amid a broader market sell-off triggered by the sharp spike in global crude oil prices, which has raised concerns about inflation, supply chain disruptions and global economic growth.

At the same time, the broader market remained under pressure. The Sensex was down 1,797 points, or 2.28 percent, at 77,121, while the Nifty slipped 563 points, or 2.31 percent, to 23,886. Market breadth was overwhelmingly negative, with over 3,200 stocks declining against about 641 advancing.

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