look news india
Multinational companies are capitalizing on the boom in the Indian stock market. Last year, more than a dozen multinational companies have reduced their stake in local businesses.
At the same time, more than half a dozen multinational companies, including Hyundai and LG, are preparing for new IPOs. Recently GE T&D companies joined the list to benefit from the Indian stock market rally, including Wabco, ITC, Styrenics, Performance Materials, Federal-Mogul Gotz, Timken India, Motherson Sumi, GMM Folder, Thomson Cook and Whirlpool. Currently, various multinational companies are benefiting from the high valuation of Indian stocks.
The current situation is that Indian subsidiaries are performing better than their parent companies operating abroad. In recent months, many multinational companies have sold their stake in Indian businesses. In June, Webco Asia sold its 7.6 percent stake in ZF Commercial Vehicle Control Systems. Which is worth Rs 2,287 crore. In March, British American Tobacco sold its 3.5 percent stake in ITC. Which was worth Rs 17,485 crore. Last March, Japan's Sumitomo Ring System sold its 4.42 percent stake. The multinational company earned Rs 3,630 crore from this sale. In February, Whirlpool earned Rs 3,880 crore by selling its Indian unit.