Nestle India rises on aiming to grow distribution footprint in semi-urban, rural markets
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Nestle India is currently trading at Rs. 22535.40, up by 48.50 points or 0.22% from its previous closing of Rs. 22486.90 on the BSE.
The scrip opened at Rs. 22551.20 and has touched a high and low of Rs. 22650.45 and Rs. 22433.40 respectively. So far 553 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 23390.00 on 17-Jul-2023 and a 52 week low of Rs. 17888.00 on 15-Mar-2023.
Last one week high and low of the scrip stood at Rs. 23100.75 and Rs. 22081.75 respectively. The current market cap of the company is Rs. 217417.44 crore.
The promoters holding in the company stood at 62.76%, while Institutions and Non-Institutions held 21.43% and 15.81% respectively.
Nestle India is focusing on 12-13 states to grow its distribution footprint in semi-urban and rural markets and offering relevant packs. It is also increasing the number of distribution points, which have gone up significantly in the last couple of years.
For Nestle India, semi-urban and rural markets are going to be the next growth area, where the company is expanding its base with relevant product portfolios. Semi-urban and the rural market currently contribute around 20 per cent to Nestle India sales.
Besides, Nestle India is also enhancing its portfolio of premium products, catching up with the growing aspirations of the consumers. The company is upping its play in the premium segment of categories such as chocolates and coffee.
Nestle India is a subsidiary of Nestle S.A. of Switzerland, a vibrant company that provides consumers in India with products of global standards.
