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    509470   INE01TL01014

BOMBAY OXYGEN INVESTMENTS LIMITED

(509470)
  Report
End-of-day quote. End-of-day quote Bombay Stock Exchange - 06/18
14858.05 INR   -1.48%
04/20Oxygen shares, real and imaginary, rally as India battles virus surge
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2020BOMBAY OXYGEN INVESTMENTS LIMITED : Ex-dividend day for final dividend
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Oxygen shares, real and imaginary, rally as India battles virus surge

04/20/2021 | 02:51am EDT
FILE PHOTO: The coronavirus disease (COVID-19) outbreak, in New Delhi

BENGALURU (Reuters) - With Indian COVID-19 patients struggling to find medical oxygen in the middle of a second deadly wave of coronavirus infections, shares in companies that produce the gas -- or simply have it in their names -- are rallying.

Bombay Oxygen, National Oxygen Ltd and Bhagawati Oxygen Ltd -- all tiny firms not listed on any major stock index -- have surged 47% or more in April, a period in which India's broader market has slumped 2%.

Over the past few days, India has ramped up oxygen production nationwide as supplies of the gas have fallen short and infections surge. Hospitalised COVID-19 patients who are seriously ill often need supplemental oxygen to increase its supply in the blood and lungs.

Meanwhile, prices for oxygen cylinders in many parts of the country have more than doubled.

National Oxygen and Bhagawati Oxygen produce industrial gases including oxygen, but Bombay Oxygen ended its gas operations in 2019 and is now a non-bank lender, according to its latest annual report.

Formerly known as Bombay Oxygen Corp Ltd, it is now Bombay Oxygen Investments Ltd. Its shares have climbed 112% since the start of April. They fell 5% on Tuesday.

A portion of Bombay Oxygen's website, however, still says it makes oxygen and other industrial gases. Reuters could not reach company representatives for comment.

"Once COVID-19 cases start going down, and oxygen supplies go up, the prices will come to normal levels and the stocks should go back (to earlier levels)," said Rusmik Oza, senior vice-president at Kotak Securities in Mumbai.

Shares in notable gas producers like Linde India Ltd, the local partner of the U.S.-German industrial gas maker Linde, have more than doubled since the end of January, around the time India's second wave of COVID-19 infections began.

Petrochemicals companies including Reliance Industries Ltd and Indian Oil Corp have begun supplying medical oxygen to plug the shortage. Shares in both companies are down about 4% each this month.

Shares of Gagan Gases Ltd, a distributor of fuel gas commonly known as LPG, have also climbed 47% this month - despite not having any significant news. A Gagan plant manager said the company does not produce oxygen. Reuters could not reach other representatives for comment.

It may be a case of success by association, but it is also short-lived.

"It's an opportunistic, tactical trade," Kotak's Oza said.

(Reporting by Sachin Ravikumar in Bengaluru; Editing by Bernard Orr)

By Sachin Ravikumar


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOMBAY OXYGEN INVESTMENTS LIMITED -1.48% 14858.05 End-of-day quote.45.92%
INDIAN OIL CORPORATION LIMITED -0.89% 111.4 Delayed Quote.23.47%
LINDE INDIA LIMITED -1.31% 1549.55 End-of-day quote.59.53%
LONDON BRENT OIL 0.20% 73.62 Delayed Quote.41.20%
NATIONAL OXYGEN LIMITED -1.94% 60.7 End-of-day quote.55.64%
RELIANCE INDUSTRIES LIMITED -0.03% 2225.45 Delayed Quote.12.11%
TENAX THERAPEUTICS, INC. -5.42% 1.92 Delayed Quote.3.23%
WTI 0.09% 71.801 Delayed Quote.47.13%
All news about BOMBAY OXYGEN INVESTMENTS LIMITED
04/20Oxygen shares, real and imaginary, rally as India battles virus surge
RE
2020BOMBAY OXYGEN INVESTMENTS LIMITED : Ex-dividend day for final dividend
FA
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Financials
Sales 2020 1,86 M 0,03 M 0,03 M
Net income 2020 -197 M -2,66 M -2,66 M
Net cash 2020 1 590 M 21,5 M 21,5 M
P/E ratio 2020 -7,23x
Yield 2020 0,11%
Capitalization 2 229 M 30,1 M 30,1 M
EV / Sales 2019 98,3x
EV / Sales 2020 -89,0x
Nbr of Employees 14
Free-Float 25,6%
Chart BOMBAY OXYGEN INVESTMENTS LIMITED
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Income Statement Evolution
Managers and Directors
NameTitle
Bhupesh P. Mehta Chief Financial Officer
Shyam Madanmohan Ruia Non-Executive Chairman
Sangeeta S. Navalkar Secretary & Compliance Officer
Mohan Bir Saran Singh Independent Non-Executive Director
Nirmal P. Jhunjhunwala Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BOMBAY OXYGEN INVESTMENTS LIMITED45.92%30
CK HUTCHISON HOLDINGS LIMITED10.17%29 567
HAL TRUST28.84%15 246
KINNEVIK AB53.16%10 434
KINGDOM HOLDING COMPANY32.08%10 297
LIFCO AB (PUBL)0.00%10 073