Shares of PG Electroplast Ltd (PGEL) rose 2.75 per cent to ₹980.05 on the BSE at 10.20 AM on Thursday after the company announced that it has signed a deal with Whirlpool of India to manufacture select models of its semi-automatic washing machines at PGEL’s Roorkee facility.

According to its exchange filing, this collaboration aims to boost “Make in India” initiatives and provide consumers with high-quality, affordable products.

• Read also: Whirlpool partners with PG Electroplast for semi-auto washing machine

“We are thrilled to partner with PGEL to expand our manufacturing capabilities in India,” said Narasimhan Eswar, Managing Director of Whirlpool of India. “This partnership leverages PGEL’s expertise to deliver exceptional washing machines that meet the needs of Indian consumers.” 

Vikas Gupta, Managing Director (Operations) of PG Electroplast, stated that “We are delighted to strengthen our relationship with Whirlpool. This partnership presents significant growth opportunities for both companies and allows us to contribute to Whirlpool’s commitment to delivering superior value to its customers.” 

The stock hit a 52 week high of ₹1,019.00 on December 17 and low of ₹146.02 on March 14.

Shares of Whirlpool of India were trading at ₹1,890.95 up 2.21 per cent on the BSE at 10:20 am.