Stocks
PG Electroplast shares tumble 7% amid gas shortage impacting production
Mumbai/IBNS: Shares of PG Electroplast Ltd. fell 7% on Friday after the company reported that its production operations were impacted by a shortage of gas supply caused by the ongoing West Asia conflict, CNBC TV18 reported.
Vikas Gupta, Managing Director of Operations at PG Electroplast, told the broadcaster that the gas supply crunch led to a loss of one week of production across the company’s AC manufacturing plants.
He added that the company’s Financial Year 2026 revenue guidance may be affected, though he did not specify the expected scale of the losses.
Meanwhile, Dalal Street witnessed a severe sell-off on Friday, extending weekly losses amid geopolitical tensions triggered by the ongoing West Asia conflict.
The Nifty 50 index fell 5% this week, marking its worst weekly performance in four years, the last such decline having occurred in June 2022.
During the week, BSE-listed companies reported a loss of ₹20 lakh crore in market capitalization. Overall, BSE-listed firms have seen a total market-cap wipeout of ₹33 lakh crore since the outbreak of the Iran–US–Israel tensions.
On Friday, the BSE Sensex opened with a decline of 900 points and later extended losses to over 1,500 points, while the Nifty 50 slipped below 23,200 points.
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