PG Electroplast Ltd (PGEL) shares surged over 2% in morning trade after announcing a definitive agreement with Whirlpool of India Limited. The deal involves contract manufacturing of select semi-automatic washing machine models under the Whirlpool brand at PGEL’s Roorkee facility.
Key Highlights of the Partnership:
- Strengthened Collaboration: Extends PGEL’s relationship with Whirlpool, which already includes air conditioner supplies.
- ‘Make in India’ Boost: Aligns with the government’s initiative to promote local manufacturing and deliver affordable, high-quality products.
- Growth Potential: The partnership may lead to further collaboration opportunities between the two companies.
PG Electroplast shares opened at ₹988.00 today, reaching a high of ₹990.75 and a low of ₹970.10 during trading. The stock is nearing its 52-week high of ₹1,019.00, significantly up from its 52-week low of ₹146.70.
As of 9:22 am, PG Electroplast shares were trading 2.53% higher at Rs 974.95 on the NSE.
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