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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. ....
Nestle share price drops 5% post Q3 earnings; top loser on BSE Nestle share price has fallen 2.44% in one week and 6.28% in a month. Year-to-date, the stock is down 8.9% BusinessToday.In | February 17, 2021 | Updated 12:39 IST The market capitalisation of the FMCG major stood at Rs 1,61,532.48 crore Shares of Nestle India traded as the top loser in the Sensex pack, falling over 5% after the FMCG major reported 2.25% YoY rise in its net profit for the quarter ended December to Rs 483.3 crore, as against Rs 472.64 crore in the corresponding quarter of the previous fiscal. Following the result update, shares of the most consistent Sensex performers from FMCG category opened at day s high of Rs 16,900 and fell 5.01% to hit an intraday low of Rs 16,360 on BSE. ....