Business Standard

Whirlpool India hits 6-year low; stock dips 6% on brokerage downgrade

Jefferies has downgraded the household appliance maker to 'underperform' from 'hold', cutting the target price to Rs 1,125 from Rs 1,265.

Whirlpool
Premium

Deepak Korgaonkar Mumbai

Listen to This Article

Shares of Whirlpool of India hit over six-year low of Rs 1,186.85, as they slipped 6 per cent on the BSE in Tuesday's intra-day trade after Jefferies downgraded the household appliance maker to 'underperform' from 'hold', cutting the target price to Rs 1,125 from Rs 1,265. The stock hit its lowest level since September 2017.

Since February 20, in the past six trading days, the market price of Whirlpool India has declined 11 per cent after Whirpool Mauritius, the promoter group company, offloaded nearly 24 per cent stake in the company for Rs 3,881 crore to reduce debt. It sold 30.39

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2024 | 11:51 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com