Moneycontrol
Last Updated : Nov 26, 2018 10:48 AM IST | Source: Moneycontrol.com

Jefferies initiates coverage on Whirlpool at a target of Rs 1,690; cites co to be best play in Indian home appliances

Further, its assorted product mix is aiding growth across cycles, analysts at the firm wrote their report.

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Global research firm Jefferies has initiated coverage on Whirlpool with a buy call and a target of Rs 1,690.

It sees the company as one of the best plays in Indian home appliances.

Further, its assorted product mix is aiding growth across cycles, analysts at the firm wrote their report.

Speaking on valuations, it said that current price to earnings (PE) multiple is 20 percent lower than its peak on a year to date basis.

Speaking on the business prospects, it said that it likes the company’s business aggression and expects July GST rate cut to boost demand.

The stock has fallen 8 percent in the past one month, while in the past three days, it has traded flat.

At 10:44 hrs Whirlpool of India was quoting at Rs 1,379.00, up Rs 12.75, or 0.93 percent, on the BSE.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Nov 26, 2018 10:48 am
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