Nestle India gained 2.14% to Rs 19,400 after the Government of India approved company's application for Production Linked Incentive (PLI) Scheme.
In June 2021, Nestle India had submitted its proposal towards the Government of India's production linked scheme for the food processing sector under the eligible categories i.e., ready to eat / ready to cook and processed fruits & vegetables. The company received approval from the Government today.The FMCG major further said that PLI scheme for the food processing sector will help farmers and the food processing industries. It is overall a good step for an industry that has one of the better ratio of capital investment and employment generation.
Nestle India is a subsidiary of Nestle S.A. of Switzerland. It has presence across India with 8 manufacturing facilities and 4 branch offices.
The FMCG major's net profit rose 5.16% to Rs 617.37 crore on 9.63% increase in net sales to Rs 3,864.97 crore in Q3 September 2021 over Q3 September 2020.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app