Whirlpool is not in a good place today; the top loser on the BSE, the stock hit its 20% LC of the day at Rs.1262.15, a decline of Rs.315, where it now remains frozen. Its 52-week low is at Rs.1186.85.

The stock slipped down 20% within seconds of opening because its parent company, Whirlpool Corporation announced its intention to sell down its ownership stake further from the existing 51% to up to 20% by mid-to-late-2025. This means, after the stake sale, Whirlpool Corporation will become a minority shareholder. It currently has a 51% stake and this is after it sold 24.7% stake in Feb’24.

In a statement issued by the company, it said, “Whirlpool India will remain a relevant part of Whirlpool Corporation's portfolio, and we continue to believe Whirlpool India has a strong long-term trajectory for growth. We intend the anticipated sell-down to result in autonomy for Whirlpool India to adjust to the ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilise its well-funded business to invest further in the business."