Jefferies Initiates Coverage On Whirlpool At A Target Of Rs 1690

Jefferies has initiated coverage on Whirlpool with a buy call and a target of Rs 1690.

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.

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.― Moneycontrol

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