News

Multibagger stock PG Electroplast share price surged 9% on Wednesday, March 25, after the company said its room air-conditioner production, which had been impacted at some plants due to LPG gas supply constraints, has now been almost normalised. This comes after the company identified and installed an alternative energy solution at its production facilities.

Moreover, a broader market rally on hopes that the US-Iran war may end soon and crude oil prices holding below $100 also provided support for the stock. Both benchmark indices, Sensex and Nifty, have surged around 1.7% in trade today, extending gains after a massive rally in the previous session.

In a regulatory filing, PG Electroplast said the disruption was linked to restrictions imposed by gas suppliers amid ongoing geopolitical tensions and instability arising from the war in the Middle East region. The company said the curbs on LPG supplies had affected production of room ACs at some of its plants.

"...we hereby would like to inform that, in light of the ongoing geopolitical tensions/instability, PG Electroplast Limited (“PGEL”) has intimated to the stakeholder regarding the constraints being faced by the company in relation to the LPG Gas. The said communication was due to the constraints faced by gas suppliers restricting the supplies due to the recent ongoing war in the Middle East region, thus impacting the production of Room AC in some of the plants in the company," the company informed in an exchange filing.

PG Electroplast further stated that it had been continuously assessing the situation and exploring alternative energy sources to minimise the impact on operations and ensure continued supplies to customers.

The company also added that after identifying and installing an alternative solution to LPG, current room AC production is now “almost normalized,” and the company has been able to address the LPG-related challenges to a large extent for the time being.

The stock jumped as much as 8.88% to its day's high of ₹546.80 on BSE. It is still around 46% away from its 2-week high of ₹1,008, hit in April 2025. Meanwhile, the stock touched its 52-week low of ₹471.15 in August 2025.

However, despite today's rally, the stock has been under pressure in recent times. It lost 40% in the last 1 year, shed 9% in the past 3 months, and crashed 15% in the past 1 month. Moreover, in the long term, the scrip has given multibagger returns, soaring around 1330% in 5 years.

PG Electroplast Ltd said its board of directors has approved the draft postal ballot notice to seek shareholders’ approval for the reappointment of two independent directors for a second consecutive term of five years, according to the company’s latest regulatory filing.

The company said the board, at its meeting held on Tuesday, March 24, approved the proposal for the reappointment of Mr. Ram Dayal Modi as an Independent Director for a second consecutive term of five years with effect from May 26, 2026. The board also approved the continuation of his directorship after attaining the age of 75 years, subject to shareholders’ approval.

In addition, the board approved the reappointment of Mrs. Ruchika Bansal as an Independent Director for a second consecutive term of five years with effect from August 14, 2026.

The company said the postal ballot notice for obtaining shareholders’ approval on the proposed reappointments will be sent to shareholders and stock exchanges in due course.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.

Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism.

Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends.

An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories