Whirlpool of India shares tumble 12% after block trades; likely seller here

Whirlpool of India shares fell over 12 per cent after over 11 per cent stake changed hands in multiple block trades on the BSE

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Shares of Whirlpool of India Ltd. tumbled over 12 per cent on Thursday after over 11 per cent stake changed hands in multiple block trades on the BSE. 

 

The consumer durables maker's stock fell as much as 12.08 per cent during the day to ₹1,055.8 per share, the biggest intraday fall since January 31 this year. The stock pared losses to trade 9.5 per cent lower at ₹1,086.5 apiece, compared to a 0.31 per cent advance in Nifty 50 as of 10:55 AM. 

 

Shares of the company snapped a three-day winning streak and currently trade at 132 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 41 per cent this year, compared to a 11.7 per cent advance in the benchmark Nifty 50. Whirlpool of India has a total market capitalisation of ₹13,613.35 crore. 

Whirlpool of India block deal

The company saw about 14 million shares, or 11.8 per cent equity change hands on BSE, according to Bloomberg data. The buyers and sellers were not known immediately. 

 

However, the news agency, citing a terms sheet, reported that Whirlpool Mauritius, the subsidiary of Whirlpool Corp., sold ₹1,490 crore worth of Whirlpool of India stock in a block trade that offered more than it had planned earlier. The company sold about 14.3 million shares at ₹1,041 rupees each, 13 per cent discount to Wednesday's closing price. 

 

Whirlpool Mauritius held a 51 per cent share in the company, as per the shareholding data available on the BSE. 

Whirlpool of India Q2 results 

The consumer durables maker reported a decline of 21.9 per cent in consolidated net profit at ₹41.80 crore for the September quarter of the current financial year. Its revenue from operations was down 3.83 per cent to ₹1,647.27 crore in the September quarter of FY26. 

 

Whirlpool of India's total expenses were at Rs 1,649.51 crore in the September quarter, down 2.33 per cent. Its total income, including other income, stood at Rs 1,697.10 crore, down 3.7 per cent in the September quarter.

 

In October, the company said it executed several key agreements after receiving approval from its audit committee and board of directors. 

 

These include a Brand License Agreement (BLA) with Whirlpool Properties, Inc.; a Technology License Agreement (TLA) with Whirlpool Corporation; a Services Agreement with Whirlpool Asia LLP; a Transitional Services Agreement (TSA) with Whirlpool Corporation; and a Deed of Assignment of Intellectual Property (IP Assignment Deed) with Whirlpool Corporation, along with accompanying confirmatory assignment deeds.

 

The company said that these agreements have been entered into with the intent to promote continued growth and innovation, along with the requisite support from Whirlpool Corporation.