Stove Kraft, TTK Prestige shares plunge up to 5% despite LPG supply squeeze fears from Israel-Iran war. Here's why

Shares of Indian kitchen appliance makers like Stove Kraft and TTK Prestige fell up to 5% despite a surge in induction cooktop sales driven by LPG supply fears stemming from the Israel-Iran war. The Strait of Hormuz closure has severely disrupted gas tanker traffic, causing LPG shortages across India and pushing up domestic cooking gas prices. Investor profit-booking after last week's rally and hopes of US-Iran diplomatic talks slightly eased supply concerns.