Whirlpool of India Share Price Fall 10.53% After Reports of Promoter Block Deal Plan

Gurugram, November 27: Whirlpool of India share price is witnessing negative investor demand today, after reports of promoter block deal. As of 12:33 PM, Whirlpool of India shares were down by 10.53%, or 126.40 points and were trading at ₹1,074.50. Until now, the shares have traded within a range of ₹1,088 and ₹1,055.80. The traded volume for the Whirlpool of India stock stood at 92.96 lakh shares, with the company’s market cap at ₹15,236 crore. The shares have their 52-week high at ₹1,981.10 and their 52-week low at ₹899.

Shares Fall After Reports of Promoter Block Deal Plan

According to ongoing media reports, the promoters of the company are looking to sell a significant stake in the company. The deal could be valued at ₹965 crore, with a floor price of ₹1,030 per share. If executed, the stake sale will be one of the biggest promoter disinvestments in the household appliances segment this year.

Investor Takeaway

The reports of promoters selling a stake in the company are being taken negatively by the investors. They believe that the promoters may not be confident of the company’s long-term growth potential. The news has negatively affected the demand, putting selling pressure on the stock. It is expected that the company may provide a clarification if the reports are incorrect to ensure the share price does not fall further.

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