(Yicai Global) May 24 -- Zhejiang-based Kaishan Compressor announced over the weekend that the first batch of air compressors for oxygen production has been sent to its client Tata Group in India, and there are still substantial orders to deliver.

Kaishan’s [SHE:300257] stock price surged 19.99 percent on the news, before closing up 8.12 percent at CNY15.04 (USD2.33) today.

Demand for oxygen-making air compressors in India has soared since April, as the country has struggled to deal with a deadly surge of the pandemic. Kaishan Group, the parent company of Kaishan Compressor, said its Indian arm has received numerous local orders from other companies as well as Tata.

The first batch of air compressors for Tata was airlifted to Mumbai, and further batches will be delivered soon, Kaishan said.

China has exported more than 26,000 ventilators and oxygen generators, and nearly 3,800 tons of medical materials and medicine to India since April. Many donations and purchases in this area were carried out via unofficial channels, said Wang Wenbin, spokesperson for the Foreign Ministry, on April 30.

Editor: Tom Litting