Whirlpool India sees worst day in nearly 4 yrs on parent's move to sell stake

Whirlpool of India

01/12/2023 10:10

(Updates share movement)
    ** Shares of Whirlpool of India  WHIR.NS  closes down 10% at
1,414.95 rupees, logs biggest percentage drop since March 2020
        ** WHIR hits lowest level since July 28 
  
    ** Parent Whirlpool  WHR.N  on Thursday said it will sell up
to 24% stake in India business
    ** While strong balance sheet, lean working capital cycle,
robust cash flows are key strengths of WHIR, high competitive
intensity will restrict extent of its margin revival, Centrum
Broking says, keeps "add" rating
    ** Five out of 13 analysts tracking stock rate it at "buy"
or above, 5 "sell" or below, 3 "hold"; media PT 1,465 rupees -
LSEG data
    ** Sees most active session since March 2022, with about 1.1
mln shares changing hands, ~19x 30 day avg
    ** Including Friday's losses, WHIR down 5.4% YTD


($1 = 83.3125 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))