Whirlpool of India down on parent's plan to reportedly sell stake

Whirlpool of India

20/02/2024 04:01

** Whirlpool of India shares  WHIR.NS  down 4% at 1,277.65
rupees, among top Nifty 500  .NIFTY500  losers
    ** US-based parent Whirlpool  WHR.N  to sell 24% stake in
WHIR at 1,230 rupees/shr, 7.6% discount to Mon close, Reuters
reports
    ** The $451 mln sale will be via block deals this week,
Reuters reports
    ** Whirlpool of India stock had already fallen 15.3% since
Nov. 30 when Whirlpool said it would sell stake
    ** Since then, analysts' avg rating has stayed at "hold" but
median price target has dropped ~7% to 1,360 rupees - LSEG data
    ** Median PT is ~11% higher than selling price for stake

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))