Whirlpool of India dropped 4.62% to Rs 2,150 after Sunil D'Souza resigned as the managing director of the company.
Sunil D'Souza's resignation will be effective from 3 April 2020. The announcement was made after market hours yesterday, 16 December 2019.Vishal Bhola will succeed D'Souza as managing director of the company with effect from 1 January 2020. His appointment will be subject to completion of necessary regulatory formalities and approvals.
Shares of Whirlpool of India declined 6.50% in two trading sessions to its current market price of Rs 2,150 from its recent closing high of Rs 2,299.65 on Friday, 13 December 2019.
Meanwhile, S&P BSE Sensex was up 323 points or 0.79% to 41,261.42.
In the past one month, the stock skid 5.69% to its current market price of Rs 2,150.
On the technical front, the stock's RSI (relative strength index) stood at 42.947. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day moving average (DMA) placed at Rs 2,192.33 and above its 200-day moving average placed at Rs 1,695.84.
On a consolidated basis, Whirlpool of India's net profit soared 63.8% to Rs 128.70 crore on 17.9% rise in net sales to Rs 1,393.46 crore in Q2 September 2019 over Q2 September 2018.
Whirlpool of India makes home appliances like refrigerators, washing machines, air conditioners, microwave ovens and small appliances. It caters to both domestic and international markets.
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