The FMCG major announced a second interim dividend of Rs 140 for the financial year while announcing sub-division or split of shares of face value of Rs 10 each fully paid-up into 10 equity shares of face value of Re 1.
Nestle India reported double-digit growth in domestic sales in the third quarter, reaching a turnover of over Rs 5,000 crore. The company attributed the growth to a combination of mix, volume, and price. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8%.
The FMCG majors gross margin and operating margin are likely to expand both YoY and sequentially, on the back of softer raw material prices, price hikes, and operating leverage benefits. Nestlé India is scheduled to release its earnings on Thursday.
The Minority has called on government to recapitalise the National Investment Bank (NIB) and abort any idea of selling it to the Agriculture Development Bank (ADB).