Whirlpool of India Shares Surge 33% in Three Days as Promoter Stake Sale Buzz Drives Heavy Volumes

Shares of household appliances manufacturer Whirlpool of India Limited witnessed intense buying interest, surging over 12% during intraday trade to touch a high of ₹959.60 on the BSE. The sharp uptick marked a cumulative 33% rally over three consecutive trading sessions, driven by market buzz concerning potential promoter stake sales and heavy trading turnover.

Trading activity at the counter saw a significant expansion, with a combined volume of around 8 million shares changing hands across the National Stock Exchange (NSE) and BSE during morning deals.

Anatomy of the Three-Day Surge

The rally began earlier in the week when reports emerged indicating that promoter entity Whirlpool Mauritius was considering divesting its remaining 39.76% equity stake in the Indian subsidiary:

• Wednesday, September 23: The stock surged 20% to freeze at its upper circuit limit of ₹865.35 on the BSE following initial reports of the potential stake sale.
• Thursday, September 24: The counter experienced mild profit-taking, slipping approximately 1.1% to settle at ₹855.55.
• Friday, September 25: Renewed buying propelled the stock upwards by more than 12% from the previous close, touching an intraday peak of ₹959.60.

With this sharp upmove, Whirlpool of India has rebounded approximately 36% from its 52-week low of ₹706.30 recorded on September 18. However, the stock remains roughly 33% below its 52-week high of ₹1,438.30, touched on October 31 of the previous year.

Exchange Clarification on Promoter Moves

Whirlpool of India issued a clarification to the stock exchanges regarding the market reports. The company noted that the media reports pertain strictly to its promoter entity, Whirlpool Corporation / Whirlpool Mauritius, and not the Indian listed operating company.

The company clarified that Whirlpool Corporation's intention to reduce its shareholding has been in the public domain since January 30, 2025. Furthermore, Whirlpool of India emphasized that it has not been a party to any discussions or negotiations that the promoter may be conducting with prospective buyers. The promoter holding in the company has progressively come down from 75% to 39.76% over recent years following open-market and block divestments.

Technical Outlook and Key Levels

Market analysts pointed out that while the sudden momentum has offered relief after months of underperformance, rapid gains over a short time frame call for a disciplined approach.

Jigar S Patel, Senior Manager - Technical Research at Anand Rathi Share and Stock Brokers, highlighted that having rallied nearly 33% across three sessions, the stock appears significantly stretched in the short term. Patel cautioned that chasing the counter at current levels carries elevated risk, recommending that investors wait for a consolidation phase or price pullback before considering fresh long positions.

Key technical levels identified for Whirlpool of India:

• Support Levels: Immediate downside support is placed at ₹900, followed by a secondary support band at ₹880.
• Resistance Levels: Immediate resistance is seen at ₹969, with the ₹1,000 mark acting as the next psychological hurdle.

Tags: Whirlpool of India BSE NSE Consumer Durables Anand Rathi Share and Stock Brokers