Home / Business and Economy / Whirlpool India Shares Crash Amidst Block Deal Reports
Whirlpool India Shares Crash Amidst Block Deal Reports
27 Nov
Summary
- Whirlpool India stock price fell nearly 12% on NSE.
- Promoter reportedly plans to sell 95 lakh shares via block deals.
- Stock has declined over 41% year-to-date.
Whirlpool of India's stock price experienced a sharp downturn on Thursday, plunging nearly 12% to ₹1,056.90 per share on the NSE. The significant drop was triggered by market reports indicating that the company's promoter is preparing to offload a substantial number of shares, estimated at 95 lakh, through block deals.
This recent slump follows a period of sustained pressure on the consumer durables stock. Over the past month, Whirlpool of India shares have depreciated by more than 23%, and the six-month performance shows a decline of nearly 15%. The year-to-date figures are even more concerning, with the stock having crashed over 41%.
The sell-off rumors have cast a shadow over investor confidence, leading to a notable correction in the stock's valuation. The substantial year-to-date losses suggest underlying concerns or market sentiment impacting Whirlpool of India's performance.
