1:10 Split, 3220% Dividend In FY24: BUY FMCG Giant Stock For 2,800 Target Price, Return On Equity (RoE) At 97%

Axis Securities has recommended BUY on FMCG giant Nestle share price which has rewarded a whopping 3,220% dividend and carried a stock split in the ratio of 1:10 in FY24. The new target price on Nestle is of Rs 2,800.

Nestle India manufactures and markets a wide range of food and beverage products, including milk and milk products, coffee, tea, noodles, chocolates, confectionery, and infant nutrition. Some of its popular brands in India include Maggi, Nescafe, KitKat, MilkyBar, and Nestle Everyday. Furthermore, it recently acquired Purina Petcare to enter into the pet care business and launched Gerber Cereals to drive the premiumisation agenda. The company operates a robust distribution network (5.1 Mn outlets) that covers both urban and rural areas of India.