Buy Whirlpool of India, target price Rs 2630: ICICI Direct

ICICI Direct has buy call on Whirlpool of India with a target price of Rs 2630. The current market price of Whirlpool of India is Rs 2450.

Time period given by analyst is Intra Day when Whirlpool of India Ltd. price can reach defined target.

Whirlpool of India Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 31020.16 Crore) operating in Consumer Durables sector.


Whirlpool of India Ltd. key Products/Revenue Segments include Domestic Appliances, Sale of services and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1354.61 Crore, down -24.43 % from last quarter Total Income of Rs 1792.54 Crore and up 30.10 % from last year same quarter Total Income of Rs 1041.24 Crore. Company reported net profit after tax of Rs 23.34 Crore in latest quarter.

Investment Rationale
Stock registered a breakout above four months range (2,418-1,972) and a higher base at 10-weeks EMA.

Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2021, while FIIs owned 2.65 per cent, DIIs 11.29 per cent.