Whirlpool plunges 20% on US parent's plan to slash stake

Whirlpool India's shares plummeted 20% as Whirlpool Corporation plans to cut its stake to about 20% this year, generating $550-600 million. The reduced stake aims to provide autonomy for growth and support $700 million debt reduction. Last year, Whirlpool had already reduced its stake from 75% to 51%.