After FMCG major Nestle India June quarter earnings beat Street’s expectations, US brokerage Jefferies recommended a ‘Hold’ on expensive valuations, while Nuvama and ICICI Securities recommended a ‘Buy’ and ‘Add’, respectively. Motilal Oswal has a ‘Neutral’ stance on the counter. The stock on Friday fell to the day’s low of Rs 22,187.30 on the NSE, … Read more
NEW DELHI: Driven by a healthy balance of volume and pricing mix, food major Nestle India impressed analysts by posting a 21% year-on-year (YoY) revenue growth in the March quarter, its highest in the last 10 years. With prices of key commodities remaining elevated, Nestle’s gross margins, however, dipped by 150 bps YoY to 53.8%. … Read more
Shares of Nestle fell 4% to Rs 18,837.6 in Friday’s intraday trade on BSE after the company reported Q4 earnings below market expectations. FMCG major Nestle India on Thursday posted a 66% year-on-year (YoY) rise in net profit at Rs 628 crore for the fourth quarter ended December 2022. The profit stood at Rs 379 … Read more