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Stock impact report

Foreign Firms Are Selling Indian Stakes as Stocks Hit New Highs [BNN Bloomberg (Canada)]

Whirlpool Corporation (WHR) 
Last whirlpool corporation earnings: 4/30 04:10 pm Check Earnings Report
Company Research Source: BNN Bloomberg
At least seven firms including US home appliance giant Whirlpool Corp. and Singapore Telecommunications Ltd., have reduced holdings in their local units since June, data compiled by Bloomberg show. British American Tobacco Plc. said Monday it's preparing to sell a part of its stake in partner ITC Ltd. The companies are seeking to capitalize on India's equity valuations which are among the most expensive in the world after eight years of annual gains. Analysts say these transactions contribute to increasing public shareholding, creating space for large investors to boost their holdings in the $4.5 trillion market. “The easy monetization of stakes in Indian companies at current valuations show the market is becoming more mature amid rising support from domestic financial investors,” said Deven Choksey, managing director of DRChoksey FinServ Pvt. Whirlpool slashed its stake in the Indian unit from 75% to 51% last month and said it plans to use the proceeds of about $468 million to Show less Read more
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