PG Electroplast shares tumbled as much as 10 percent on Monday, emerging as the biggest loser in the Nifty Consumer Durables pack, while Amber Enterprises shares fell nearly 6 percent to around ₹7,500. According to reports from Moneycontrol, the stock was trading at ₹548.35 at noon, down 10 percent from previous levels. Amber Enterprises, another contract manufacturer for air-conditioner brands, also declined over 5 percent to ₹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, PG Electroplast 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. As reported by Moneycontrol, the company stated that the disruption has severely constrained the availability of LPG, leading to reduced gas allocations under the contract starting March 9, 2026. The company is currently assessing whether any supply curtailment may need to be imposed on downstream customers while simultaneously exploring alternative supply sources to maintain production. PG Electroplast shares hit the 10% lower circuit following the disclosure, reflecting the severity of the supply chain concerns.
The sharp fall in PG Electroplast and Amber Enterprises shares weighed on other consumer durable and cooling appliance companies, according to Moneycontrol reports. 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, with Cera Sanitaryware declining about 2.8 percent and Kajaria Ceramics falling around 1 percent. Consumer appliance manufacturers 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.
The weakness in consumer durable stocks came amid a broader market sell-off triggered by the sharp spike in global crude oil prices, as reported by Moneycontrol. 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. Jewellery retailer Kalyan Jewellers and watchmaker Titan Company also traded lower during the session, reflecting the widespread impact of supply chain concerns across multiple sectors. Analysts note that while the immediate market reaction reflects supply chain concerns, the longer-term impact will depend on how quickly companies are able to secure alternative gas supplies and stabilise operations.
