Buy Nestle India, target price Rs 2800: Axis Securities

Nestle India Ltd. key Products/Revenue Segments include Milk Products, Prepared Dishes & Cooking aids, Confectionery, Beverages (Powdered), Export Incentives, Other Operating Revenue for the year ending 31-Mar-2024.

By ETMarkets.com | Updated: Sep 04, 2024, 09.11 AM IST

Promoters held 62.76 per cent stake in the company as of 30-Jun-2024, while FIIs owned 11.94 per cent, DIIs 9.12 per cent.

Axis Securities has buy call on Nestle India with a target price of Rs 2800. The current market price of Nestle India Ltd. is Rs 2527.95.

Nestle India Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 244004.07 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 4853.07 Crore, down -8.33 % from last quarter Total Income of Rs 5294.34 Crore and up 3.64 % from last year same quarter Total Income of Rs 4682.48 Crore. Company reported net profit after tax of Rs 746.60 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 62.76 per cent stake in the company as of 30-Jun-2024, while FIIs owned 11.94 per cent, DIIs 9.12 per cent.

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