Nestle India share price NSE, Nestle India Q3 results, Nestle India stock split, Nestle India dividend 2023: Consumer products company Nestle India—whose popular products include Maggi instant noodles—took centre stage on Dalal Street as brokerages largely remained positive on the stock after the company reported a strong set of financial results for the July-September period, announced a share split plan, and declared a dividend.

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Nestle India shares soared to a fresh record high on Friday, extending a rally that began during market hours the previous day following its announcements. Nestle India shares on Friday, October 20 gained as much as 2.5 per cent touch fresh record high of Rs 24,745 on NSE. The counter finished at Rs 24,282, up by Rs 149.65 or 0.62 per cent on NSE. 

However, Nestle India posted lower-than-expected nine-month sales growth as higher product prices made shoppers balk, but said it expects volumes to turn positive again by the end of the year. 

Here's how the counter moved on Friday, october 20: 

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The company’s board approved a proposal to split the stock in the ratio of 1:10 as well as an interim dividend of Rs 140 per share. 

Here's what brokerages make of the Nestle India's Q3 results and other announcements:  

Nestle India
Brokerage  Rating  Target (INR) 
Morgan Stanley  Underweight  18910 
JP Morgan  Overweight  23800 
Jefferies  Hold  20600 
Citi  Buy  26500 
Goldman Sachs  Neutral  24000 
Nomura  Buy  28100 
Macquarie  Neutral  22700 

Morgan Stanley maintained an ‘underweight’ call on Nestle India and raised its price target for the stock by Rs 1,676 to Rs 18,910. According to the brokerage, sustained double-digit domestic topline growth lagged its estimates, though by a thin margin, for the seventh quarter in a row. 

Jefferies, which maintained a ‘hold’ rating with a raised target of Rs 20,600 instead of the Rs 19,900 earlier, said the company’s third straight quarter of 20 per cent growth in EBITDA came despite a slight miss on the revenues front as its gross margin expanded smartly. 

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