Nestle India advances after strong Q4 result

Nestle India gained 3.76% to Rs 7,532.95 at 10:25 IST on BSE after net profit surged 59.58% to Rs 311.83 crore on 10.45% increase in total income to Rs 2652.55 crore in Q4 December 2017 over Q4 December 2016.

The results were announced after market hours yesterday, 14 February 2018.

Meanwhile, the S&P BSE Sensex was up 226.62 points, or 0.66%% to 34,382.57.

On the BSE, 10,000 shares were traded in the counter so far, compared with average daily volumes of 5,375 shares in the past one quarter. The stock had hit a high of Rs 7,640 and a low of Rs 7,429.50 so far during the day. The stock hit a record high of Rs 8,001 on 14 December 2017. The stock hit a 52-week low of Rs 5,957.20 on 16 February 2017.

The stock had underperformed the market over the past 30 days till 14 February 2018, falling 6.41% compared with 1.77% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 5.22% as against Sensex's 3.17% rise. The scrip had also underperformed the market in past one year, gaining 17.6% as against Sensex's 21.31% rise.

The large-cap company has equity capital of Rs 96.42 crore. Face value per share is Rs 10.

The board of directors of Nestle India has recommended a final dividend of Rs 23 per share for the year ended 31 December 2017.

Nestle India is a subsidiary of Nestle S.A. of Switzerland. The company manufactures internationally famous brand names such as Nescaf Maggi, Milkybar, Kit Kat, Bar-One, Milkmaid And Nestea, etc.

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