Due to the increased demand for oxygen due to Corona, the prices of the company are increasing with similar names.
The stock market is full of uncertainty. It is said that sentiment is the mainstay of the stock market. Due to this, the stock market keeps on increasing or decreasing. This proved to be true on Monday. In the stock market on Monday, companies whose names had the words oxygen or gas. Their price rose rapidly.
Shakespeare said that what is in a name, but in the incident that happened yesterday, it is proved that everything is kept in the name itself. There is a shortage of oxygen in the country due to corona, in such a situation, the price of companies whose name is oxygen or gas is increasing. Whether it was producing the company’s oxygen or gas or not, SEBI has ordered an inquiry into the turmoil in the stock market due to the sharp rise in prices.
Bombay Oxygen Investment Ltd share price crossed 24574.50 with upper limit circuit of 5%. The company’s stock was at Rs 10,000 at the end of March and doubled in a few days. The company does not produce oxygen in any way but its price has increased rapidly. This company works in the financial sector. In the past, it used to produce and supply industrial gas but the company stopped operations in August 2019.