27/2/2024, 12:56:03 pm

Whirlpool CEO says cut stake in Indian unit due to high valuation, stock

Whirlpool has no plans to exit the Indian market but its recent stake sale in the India unit was due to high valuations and disparity against the global parent, CEO Marc Bitzer has said. The reassurance didn't seem to have done much as Whirlpool India shares fell 5 percent to sink to a 52-week low of Rs 1,186 on February 27. The stock of the consumer durables company has crashed 9 percent.