Whirlpool surges by over 3 per cent on expansion plans

The share price of Whirlpool of India surged by over 3 per cent during Wednesday's trade. The surge in the share price came on the back the company’s capacity expansion plans. It hit an intraday high of Rs. 1,582 per share, up by 3.29 per cent on BSE on Wednesday.

The company has proposed the enhancement of its existing capacity of single door refrigerator. It will be adding a total capacity of 6 lakh per annum to its existing capacity of 21 lakh at an estimated cost of Rs. 182 crore. The expansion is expected to take a span of two years for completion and has come in the wake of an increased demand of its product. The company currently has nearly 94 per cent capacity utilization at its existing single door refrigerator unit.

The stock has surged by about 69 per cent in the last one-year. On Wednesday, the stock hit an intraday high of Rs. 1,582 per share and an intraday low of Rs. 1,540 per share on BSE. The stock hit its 52-week high of Rs. 1,680 per share on January 1, 2018 and its 52-week low of Rs. 887.25 per share on January 23, 2017, respectively.

At 11:52 hours IST, the stock was trading at Rs. 1,546 per share, higher by 0.95 per cent on BSE. Meanwhile, S&P BSE Sensex was trading at 34,337.84 level, higher by 0.31 per cent and NSE Nifty 50 was trading at 10,603.55 level, lower by 0.31 per cent, respectively.