Live Breaking News & Updates on கூடு இந்தியா பகிர் ப்ரைஸ்
Stay updated with breaking news from கூடு இந்தியா பகிர் ப்ரைஸ். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Nestle India reported net profit of Rs 602 crore. Shares of the popular Maggi noodle maker - Nestle India - fell as much as 1.73 per cent to hit an intraday low of Rs 16,799 on the National Stock Exchange after it reported March quarter earnings post market hours on Tuesday. On the BSE, Nestle India shares declined as much as 1.67 per cent to hit an intraday low of Rs 16,800. Nestle India reported net profit of Rs 602 crore on Tuesday, April 20, registering a growth of 14.6 per cent in the January-March quarter from Rs 525 crore during the same period last year. Nestle India reported double-digit domestic sales growth in the quarter ending March 2021 at 10.2 per cent, while overall sales grew by 8.9 per cent to Rs 3,600 crore. ....
Nestle India s recently launched strategy of product innovation and deeper penetration in the rural areas bodes well for the stock of the firm, according to analysts, who see an up to 17 per cent upside for it from current levels. The shares of the FMCG major have underperformed the market with a 12 per cent decline on a year-to-date (YTD) basis. During this period, the Nifty has jumped 3 per cent while the Nifty FMCG index has dipped 5 per cent, as per ACE Equity data. Going ahead, however, the fortunes are expected to look up as Nestle, at its analyst meet, unveiled a strategy to aggressively pursue expansion in the rural areas, increase capacity and focus on new product launches. ....
Here are the top stocks that are likely to be in focus today: Adani Ports: The company said it has completed the acquisition of Dighi Port for Rs 705 crore and would invest over Rs 10,000 crore in developing it as an alternate gateway to JNPT. L&T Finance Holdings: The company, last evening, informed exchanged that it has closed its rights issue and raised over Rs 2,998 crore. The rights issue was oversubscribed by approximately 15 per cent, it said in a release. Nestle India: The company s profit after tax rose 0.2 per cent year-on-year to Rs 483.3 crore from Rs 472.6 crore in the corresponding quarter previous year. ....
Read more about Nestle India shares decline 5% as December quarter results disappoint on Business Standard. Brokerage HDFC Securities in a results update said moderation in in-home consumption categories will impact key brands but revival in OOH will support growth ....
A continued increase in in-home consumption and demand for packaged food along with festive season is likely to have driven the growth for fast-moving consumer goods (FMCG) maker Nestle India during the December 2020 quarter, according to analysts, who see a nearly 10-13 per cent growth in revenue on a yearly basis. However, on a sequential basis, the sales growth is likely to be flat or may dip marginally between 1-2 per cent, they believe. Gross margins are likely to expand, led mainly by lower-cost inventory of milk which in turn is likely to drive the operating margins for the FMCG major. The profit for the period is expected to grow between 16-19 per cent on a yearly basis but could contract by 6 per cent sequentially. ....