Foreign Companies Reduce Stakes in Indian Businesses Amid Equity Market Boom

Several foreign companies, including Whirlpool Corp., Singapore Telecommunications Ltd., and British American Tobacco Plc., are paring stakes in their Indian businesses, leveraging the nation’s booming equity market to raise cash. British American Tobacco Plc. announced its plans to sell a part of its stake in partner ITC Ltd. This trend reflects the current opportunities in the Indian equity market that foreign companies are capitalizing on to bolster their cash reserves.