Axis Capital downgrades Whirlpool India amid stake sale
pre-market1 source ↓written by the desknot a recommendation
- in its Indian
- 11.2% stake sale
- target price
- ₹897
- indicating
- 16% downside
- to address
- 51% to 20%
- gross debt
- ₹57,000 cr
Whirlpool Corporation's planned 11.2% stake sale in its Indian subsidiary has led Axis Capital to issue a sell rating on Whirlpool of India, with a target price of ₹897, indicating a 16% downside. The parent company aims to reduce its holding from 51% to 20% to address its ₹57,000 cr gross debt. Despite these changes, Whirlpool of India has shown strong performance.
Not investment advice. For informational purposes only.