Nestle India surges on looking to tap opportunities in new categories
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Nestle India is currently trading at Rs. 17348.00, up by 109.50 points or 0.64% from its previous closing of Rs. 17238.50 on the BSE.
The scrip opened at Rs. 17299.00 and has touched a high and low of Rs. 17473.75 and Rs. 17030.00 respectively. So far 803 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 20599.95 on 14-Sep-2021 and a 52 week low of Rs. 16000.00 on 19-May-2022.
Last one week high and low of the scrip stood at Rs. 18150.00 and Rs. 17030.00 respectively. The current market cap of the company is Rs. 166602.50 crore.
The promoters holding in the company stood at 62.76%, while Institutions and Non-Institutions held 20.61% and 16.62% respectively.
Nestle India is looking to tap opportunities in new categories such as 'healthy ageing', 'plant-based nutrition’ and 'healthy snacking' to boost growth in the country. The company's existing businesses, ranging from nutrition, breakfast cereals and beverages to chocolate and confectionery, have ‘headroom for penetration’. There are new opportunities whether it is in healthy ageing products, plant-based nutrition, healthy snacking and the toddler segment (for nutrition). All of these will be happening in the next couple of years.
Nestle India is a subsidiary of Nestle S.A. of Switzerland, a vibrant company that provides consumers in India with products of global standards.
