1:10 Stock Split: Nestle India Approves Sub-Division of Shares

Board of directors of Nestle India Ltd today approved sub-division of shares in the proportion of 1:10. Nestle India shares witnessed a rally of 1.09% intraday to Rs 23,524.00 apiece after the company announced strong Q3 performance. Nestle India shares surged 1.94% in last 1-week and soared 19.08% in last 1-year.

What Is Stock Split? When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. The companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

Earlier, Nestle India reported a jump of 37% in its consolidated net profit to Rs 908 crore for the third quarter of this year as against Rs 668.3 crore announced an year ago. The company declared its revenue at Rs 5036.8 crore, up 9.6% as against Rs 4601.8 crore declared last year.

Nestle India Approves Stock Split: The company also stated in today's exchange filing, "Sub-division/ split of each equity share of face value of Rs. 10/- (Rupees ten only) each, fully paid-up into 10 (ten) equity shares of face value of Re. 1 /- (Rupee one only) each, fully paid-up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought by means of Postal Ballot. The Record Date for sub-division/ split of existing equity shares will be intimated in due course. The detailed disclosure for sub-division/ split of existing equity shares of the Company, in terms of Regulation 30 of Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023, is enclosed as Annexure A."

Nestle India Stock Outlook & Return Over Years: Current market price of Nestle India share on BSE is Rs 23,524.00 per share with intraday jump of 1.09% at the time of writing the story. Its 52-week high price is Rs 23,619.40 per share and 52-week low price is Rs 17,888.00 per share, respectively. Nestle India has a market capitalisation of Rs 2,26,576.93 crore. Nestle India shares rallied 20% YTD, soared 19% in last 1-year, rose 46% in last 3-years, and gained 144% in last 5-years. The FMCG major soared 325% in last 5-years.

About Nestle India: NESTLÉ India is a subsidiary of NESTLÉ S.A. of Switzerland. With eight factories and a large number of co-packers, Nestlé India is a vibrant Company that provides consumers in India with products of global standards and is committed to long-term sustainable growth and shareholder satisfaction, according to its official website.