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Loading the player. India to expand COVID-19 vaccination but supplies run short, imports delayed Under fire for his handling of the world s worst COVID-19 surge, Indian Prime Minister Narendra Modi has opened vaccinations for all adults from next month, but supplies are already running short. Public forecasts by its only two vaccine producers show their total monthly output of 70-80 million doses will increase only in two months or more, though the number of people eligible for vaccines will double to an estimated 800 million from May 1. Delhi HC dismisses Facebook, WhatsApp pleas against CCI order to probe new privacy policy ....
Nestle India reported net profit of Rs 602 crore. Shares of the popular Maggi noodle maker - Nestle India - fell as much as 1.73 per cent to hit an intraday low of Rs 16,799 on the National Stock Exchange after it reported March quarter earnings post market hours on Tuesday. On the BSE, Nestle India shares declined as much as 1.67 per cent to hit an intraday low of Rs 16,800. Nestle India reported net profit of Rs 602 crore on Tuesday, April 20, registering a growth of 14.6 per cent in the January-March quarter from Rs 525 crore during the same period last year. Nestle India reported double-digit domestic sales growth in the quarter ending March 2021 at 10.2 per cent, while overall sales grew by 8.9 per cent to Rs 3,600 crore. ....
Nestle India s recently launched strategy of product innovation and deeper penetration in the rural areas bodes well for the stock of the firm, according to analysts, who see an up to 17 per cent upside for it from current levels. The shares of the FMCG major have underperformed the market with a 12 per cent decline on a year-to-date (YTD) basis. During this period, the Nifty has jumped 3 per cent while the Nifty FMCG index has dipped 5 per cent, as per ACE Equity data. Going ahead, however, the fortunes are expected to look up as Nestle, at its analyst meet, unveiled a strategy to aggressively pursue expansion in the rural areas, increase capacity and focus on new product launches. ....
NEW DELHI: Shares of Nestle India tanked 5 per cent in Wednesday s trade after a host of brokerages changed their stance on the stock following a less-than-expected December quarter results. Foreign brokerage JP Morgan downgraded the stock to Neutral from Overweight on unexciting December quarter results while also lowering margin expectations. This brokerage sees the stock at Rs 17,700. Credit Suisse has downgraded the scrip to Neutral and has a target of Rs 17,800 on it. Jefferies also has downgraded the stock to Hold with a target of Rs 19,000. CLSA has retained its outperform rating on Nestle but has reduced its target to Rs 19,000 from Rs 19,400 earlier. HSBC, meanwhile, has maintained its buy call on the stock with a target of Rs 20,000. The stock fell 5 per cent to hit a low of Rs 16,360 on BSE. ....