Shares of household appliances maker Whirlpool of India surged more than 12% on Friday, September 25, after the company clarified that its promoter, Whirlpool Mauritius, was exploring a potential sale of its remaining stake in the company and that Whirlpool of India had not participated in any discussions with prospective buyers.
The stock had jumped 20% on Wednesday, September 23, after reports of stake sale, before witnessing some profit booking on Thursday, September 24, when it declined 1%. Overall, the stock has surged 33% in 3 sessions.
Whirlpool of India shares began Friday’s session marginally lower at ₹853.85 apiece on the BSE, compared with the previous close of ₹855.55. The stock quickly reversed direction and climbed more than 12% to touch an intraday high of ₹959.60.
Following Friday’s sharp recovery, Whirlpool of India shares had rebounded around 36% from their 52-week low of ₹706.30, recorded on September 18 on the BSE. Despite the recent gains, the stock remained 33% below its 52-week high of ₹1,438.30, hit in October last year. It has gained 22% in 1 month, 16% in 6 months but lost 25% in the last 1 year.
Should you buy?
Jigar S Patel, Senior Manager – Technical Research, Anand Rathi Share and Stock Brokers Limited noted that WHIRLPOOL has rallied nearly 33% in just three sessions, making the stock look significantly stretched in the short term. After such a sharp move, chasing the stock at current levels may carry higher risk, and a pullback or consolidation should be watched for before considering fresh entry, he pointed out.
“On the downside, ₹900 is expected to act as the immediate support, followed by ₹880. On the upside, ₹969 is the immediate resistance, while ₹1,000 remains the next major resistance zone. A healthy retracement toward the support zone could provide a better risk-reward setup for fresh positions,” suggested the expert.
Whirlpool stake sale news and clarification
Whirlpool of India’s share price surged after reports indicated that promoter Whirlpool Mauritius was in the final stages of discussions to sell its entire remaining stake in the company, with an announcement expected in the coming weeks. Potential buyers reportedly include large investors and a major multinational consumer durables company.
Whirlpool of India clarified on Thursday that the report concerned its promoter and not the company itself. It said Whirlpool Corporation’s intention to reduce its stake had been publicly disclosed on January 30, 2025, but Whirlpool of India had not participated in any discussions with prospective buyers.
“The Company clarifies that the said news article relates to its promoter company and not to Whirlpool of India Limited. The intent of Whirlpool Corporation to reduce its shareholding in the Company has been in the public domain since January 30, 2025. However, the Company has not been a party to any negotiations that Whirlpool Corporation may have been having with potential buyers,” it said in an exchange filing.
Following the disclosure, Whirlpool of India amended several intercompany arrangements in its interest, with details submitted to the exchanges on October 16, 2025. It has since received updates from Whirlpool Corporation about the planned stake reduction, including the sale of around 1% stake in 2025, disclosed on November 28.
The company said it had no knowledge of whether any further negotiations involved the promoter’s entire holding or only part of it, or about the terms, price or stage of discussions. It therefore did not notify the exchanges to avoid creating unwarranted expectations or a false market.
The latest communication from Whirlpool Mauritius, dated September 22, 2026 and received by Whirlpool of India’s board at 7.17 pm IST after office hours, reiterated its intention to sell shares to a third party as part of a control transaction. It said the proposed sale was being explored with more than one potential counterparty. Whirlpool of India again clarified that it was not involved in the proposed transaction or negotiations.
The company said it could not comment on the factors driving its share price, but did not believe Wednesday’s report had any material impact. It also said it was unaware of any regulatory or legal proceedings relating to the initiation or outcome of such proceedings.
As of June, Whirlpool Mauritius held 39.76% in Whirlpool of India. The promoter has reportedly been reducing its holding since 2023, including an additional 11.24% stake sale last year, taking its ownership down from 75% to 39.76% over three years.
Whirlpool of India Limited is a leading home appliances maker headquartered in Gurugram, Haryana. The company manufactures and sells a range of products, including refrigerators, washing machines, air conditioners and kitchen appliances.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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