Nestle, Abbott India, Asian Paints, Pidilite hit new highs on good earnings

Nestle India gained 4% to Rs 12,266 apiece, surging 7% during current week, after the company reported a 11% year-on-year (YoY) rise in net profit to Rs 438 crore for the quarter ended June 2019.

Shares of five companies – Nestle India, Abbott India, Asian Paints, Berger Paints, and Pidilite Industries – from the S&P BSE 500 index hit their respective new record highs on the BSE on Friday after reporting good set of numbers for the April-June quarter of financial year 2019-20.

Nestle India gained 4 per cent to Rs 12,266 apiece, surging 7 per cent during current week, after the company reported a 11 per cent year-on-year (YoY) rise in net profit to Rs 438 crore for the second quarter ended June 2019, led by sales and volume growth. Total sales increased by