FMCG Nestle Shares Slip 8.49% YTD, Buy For TP Rs 2800 On Sept 9: Axis Securities

Large cap FMCG giant Nestle India Ltd shares slipped 8.49% year-to-date and gained 13.89% in last 1-year. Last trading price of Nestle India shares on BSE is Rs 2504.25 per share. Brokerage firm Axis Securities has recommended buy call with target price of Rs 2800 apiece.

Earlier on August 1, 2024 Nestle informed that Mansi Khanna ceased to be Head of Nestlé Health Science Business of the Company (Senior Management Personnel) effective from 1st August 2024. Nestle has a market capitalisation of Rs 2,41,449.06 crore. Check details below:

Nestle India Shares Performance: The 52-week high price of Nestle India share on BSE is Rs 2770.75 per share (as on 02/01/2024) and 52-week low price is Rs 2180.79 per share (as on 08/09/2023), respectively. Nestle India has a PE of 74.42, ROE of 97.11 and EPS of 33.65. Nestle India shares declined 1% in last 2-weeks, gained 1.23% in last 3-moths, jumped 31% in last 2-years, and soared 99% in last 5-years.

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 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.

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

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.

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 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.