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Whirlpool of India declines sharply despite broader market gains
Whirlpool of India fell sharply on promoter-sale reports and weak quarterly earnings, with profit and revenue declining and the stock sliding over 13 percent.
Whirlpool of India shares dropped over 13% on Thursday even as benchmark indices advanced, with the stock opening sharply lower before hitting an intraday low of ₹1,041. The decline followed reports that promoter Whirlpool Mauritius may sell about 7.5% equity worth nearly ₹980 crore through block deals. The promoter currently holds 51% after earlier divestments.