1:10 Stock Split: FCMG Nestle To Consider Q2 Results On Oct 17, Shares Drop 1.09% In 2024; Buy?

Large cap FMCG giant Nestle India Ltd will consider its financial results for July to September 2024 quarter on October 17, 2024, according to its BSE filing. Nestle India shares witnessed decline of 1.09% in 2024. Earlier this year in July, Nestle India informed it would enter a joint venture with Dr Reddy's Laboratories in order to collaborate and boost nutraceuticals portfolios in India. Nestle India and DRL will reportedly hold equity shares in the ratio of 49:51. Last trading price of Nestle India Ltd shares on BSE is Rs 2706.80 per share. Nestle India shares gained 20% in last 1-year. The company's market capitalisation stood at Rs 2,60,978.06 crore. Check details below:

Nestle India Ltd To Consider Results In October: As per the regulatory filing dated September 24, 2024, "Further to our letter dated PKR:SG: 88:23 dated 19th December 2023, the unaudited financial results of the Company for the second quarter and half year ending 30th September 2024 shall be considered by the Board of Directors of the Company at its meeting scheduled to be held on Thursday, 17th October 2024." In view of the above event, the Trading Window in respect of the equity shares of the Company shall remain closed from 1st October 2024 to 19th October 2024 (both days inclusive), added the BSE filing.

Nestle India Shares Performance: The 52-week high price of Nestle India share on BSE is Rs 2777.00 per share (as on 27/09/2024) and 52-week low price is Rs 2226.09 per share (as on 03/10/2023), respectively. Nestle India has a PE of 80.44, ROE of 97.11 and EPS of 33.65. Nestle India shares jumped 6.33% in last 2-weeks, gained 5.42% in last 3-moths, rallied 41% in last 2-years, and jumped 97.99% in last 5-years.

Nestle India Stock Split History: Nestle India split the face value of its share once since January 5, 2024. Nestle India last split the face value of its shares from Rs 10 to Re 1 in 2024.The share traded ex-split as on January 5, 2024.

Nestle India Shareholding: Promoters holding remains unchanged at 62.76% in June 2024 quarter. FII/FPI have decreased holdings from 12.10% to 11.94% in June 2024 quarter. Number of FII/FPI investors decreased from 1000 to 984 in June 2024 quarter. Mutual Funds have decreased holdings from 4.45% to 4.37% in June 2024 quarter. Institutional Investors have increased holdings from 21.15% to 21.16% in June 2024 quarter.

Nestle India Q1 Results: Nestle India Ltd announced a surge of 6.91% year-on-year (YoY) in its net profit to Rs 746.60 crore for the quarter ended June 30, 2024 as against Rs 698.34 crore declared in the corresponding quarter of last year. As per the BSE filing of the company, Nestle India declared its revenue from operations at Rs 4813.95 crore, up 3.3% as against Rs 4658.53 crore reported in the corresponding quarter of last year.

"KITKAT delivered double digit growth. We take pride in confectionery being one of the most distributed businesses with highly connected digital brands and a slew of innovations in the pipeline. Milk Products and Nutrition portfolio-maintained growth," it said.

Nestle India Dividend History: It announced 71 dividends since May 31, 2001. In last 1-year, Nestle India announced an equity dividend amounting to Rs 158.25 per share. At the current share price of Rs 2706.80, Nestle India offers a dividend yield of 5.85%. Adjusting for Bonus/Splits the dividend yield is 1.19%.

LIC Stake In Nestle: Life Insurance Corporation of India (LIC) has 2.40% stake in Nestle India with 23,094,454 shares of the company.

Should You Buy Nestle? Leading brokerage firm Axis Securities issued buy call with target price of Rs 2800 per share. Axis Direct too has recommended buy to Nestle India shares with target price of Rs 2710 per share for short term period.

According to A R Ramachandran, Independent SEBI Research Analyst, "Nestle India is slightly bearish on the daily charts with strong resistance at 2778. A Daily close below support of 2659 could lead to target of 2500 in the near term."

About: Nestle India is a subsidiary of Nestle S.A. of Switzerland. With eight factories and a large number of co-packers, Nestle 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.

Disclaimer: The stock has been picked from the brokerage report of A R Ramachandran, Axis Direct and Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.