PG Electroplast’s share price surged 4% following the announcement of a partnership with Whirlpool to contract manufacture select semi-automatic washing machines at its Roorkee facility, enhancing their collaboration.
Whirlpool of India Limited announced the signing of a Definitive Agreement for contract manufacturing of select models of Whirlpool-branded semi-automatic washing machines.
Under the arrangement, PGEL will manufacture some of the Stock Keeping Units (SKUs) for Whirlpool at its factory in Roorkee. PGEL is already an existing supplier of Whirlpool-branded Air Conditioners.
PG Electroplast is a solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to the leading consumer durable and electronics brands in India. The company has one of the biggest capacities in Plastic Injection moulding and has capabilities across the value chain in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM) products like Room ACs, Washing Machines, Air-Coolers, and LED TVs.
PG Electroplast’s share price traded 3.95% higher at ₹973.50 at 10:00 AM on the NSE. The stock opened at ₹988, higher than ₹950.85 at the previous close. The share gained for the second consecutive session today, extending yesterday’s gain of approximately 3.5%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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