Induction cooktops are in demand. Here are three stocks to watch

war in West Asia has brought to light the dependence on imported fuels.India imports most of its crude oil and a majority of its natural gas requirement. This has caused anxiety among consumers about disruptions in cooking fuel.

The fear has also led to a sharp rise in demand for induction cooktops and put the spotlight on the companies that make induction stoves in India. Let’s have a look at three of themTTK Prestige is a well-known kitchenware name with leadership in a range of product categories – cookers, cookware, gas stoves, etc.It has a market leadership position in the organised pressure cooker segment.

The company has been in existence for over six decades.TTK Prestige has a decent financial track record and has paid consistent dividends. Its sales have grown at a CAGR of 6%, while profits have reduced in the past couple of years.The company has maintained average ROE and ROCE of 13% and 18%, respectively, over the past 5 years.Currently, the company is focused on innovation of its product range to remain relevant to consumers.

With continuous additions to the product range and promising potential in export markets, the management expects the business to keep expanding.The management’s strategy is to expand capacity whenever capacity utilisation approaches 70%. Bajaj Electrical is a consumer electrical equipment manufacturing company based in Mumbai.

It’s a part of the Bajaj group.The company has a good brand recognition among Indian consumers. Its products are also well regarded in the market in terms of quality.The company has struggled on the growth front over the years due to intense competition but has improved its return ratios recently.Despite no improvement in revenue and profits over the last 3 years,