PG Electroplast share price jumps 5.5% on partnership with Whirlpool for manufacturing semi-auto washing machines
Live MintStock Market Today: Shares of PG Electroplast, the flagship entity of the PG Group, rallied 5.50% in early morning trade on Tuesday, December 24 to ₹1,002 apiece after the company partnered with Whirlpool. The company informed investors through a regulatory filing on Monday that it had signed a definitive agreement with Whirlpool of India for contract manufacturing of select models of Whirlpool-branded semi-automatic washing machines. Commenting on the agreement, Narasimhan Eswar, Managing Director of Whirlpool of India, said, “We are excited to announce that Whirlpool has tied up with PG Electroplast to manufacture certain SKUs of its semi-automatic washing machines.” "With Whirlpool’s exceptional designs and technology and PGEL’s manufacturing expertise, today’s announcement reaffirms our commitment to the Government’s ‘Make in India’ initiative and providing best-in-class products to our consumers at an affordable price point," he added. PG Electroplast is one of the leading diversified Indian electronic manufacturing services providers, offering contract manufacturing to leading consumer durables and electronics brands in India.
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