Hopes tax benefits in Budget 2025 will spur consumption, sales
Most brokerages have cut earnings per share (EPS) estimates on Nestle India on the backdrop of moderation in growth momentum in the near term
The company had reported a net profit of Rs 655.6 crore in the same period last year
Nestle India reported a 5 per cent year-on-year increase in consolidated net profit, reaching Rs 688 crore, compared to Rs 655 crore in the same quarter of the previous year
For Nestle India, home to Nescafe instant coffee and KitKat chocolate brands, revenue increased nearly 4 per cent to Rs 4,780 crore
Q3 FY25 company results, January 31: Vedanta, Nuvama, Punjab National Bank, IndusInd Bank, and Bandhan Bank will be among 135 companies to release their reports for the Oct-Dec quarter
Analysts and investors will keep an eye out for management's guidance on demand and growth outlook
Nestle India share price has tumbled nearly 23% in the last 4 months, and now trades 5% away from its key long-term support on the monthly chart; the stock has held since November 2017.
Other stocks in CLSA's 2025 India portfolio include Reliance Industries, Tata Consultancy Services, ICICI Bank, ITC, Axis Bank, ONGC, SBI Life, Hindalco, Jindal Steel & Power and IndusInd Bank
FMCG major Nestle India on Thursday said the suspension of the MFN (most favoured nation) clause granted to India by Switzerland will have 'no impact' on the company. The suspension of MFN status under the Double Taxation Avoidance Agreement (DTAA) is a policy issue between the government of India and Switzerland and is not 'Nestle-specific', the FMCG firm said in a statement. Nestle India, which owns popular brands such as Maggi, Nescafe and KitKat, said the company was already "deducting 10 per cent withholding tax" on cross-country payments. Earlier on December 11, the Swiss government had announced the suspension of the MFN status granted to India following a ruling by the Supreme Court of India, which in a judgement last year had said MFN status under the DTAA cannot be enforced unless notified under Section 90 of the Income Tax Act. This judgement of the apex court had come in a case related to Nestle, where it overturned an earlier order passed by the Delhi High Court in 202
Sensex hit 79,020 in intra-day trade today, falling 3.79 per cent or 3,113.12 points in four trading days from the level of 82,133 touched on Friday, December 13
The weekly weight-loss injections mimic an intestinal hormone called GLP-1 and curb people's appetite, promoting a feeling of fullness
The repercussions continue to weigh on the Swiss company's revenue after shoppers switched to cheaper, better advertised or more innovative brands, eating into Nestle's market share
These 7 Nifty 50 stocks are seen trading with an RSI below 30; stocks trading in oversold zone need not necessarily bounce back immediately. Here are the key levels to watch out for.
There has been a dramatic change in the tone and tenor of FSSAI, and the Indian food regulator has now become more pro-active and industry-centred with fast responses in the last decade, said Nestle India Chairman and Managing Director Suresh Narayanan. Moreover, with the setting of more NABL-accredited laboratories by different leaders of FSSAI, the credibility of the testing process has also increased, said Narayanan, who led Nestle India after the Maggi crisis, which unfolded almost a decade back. In June 2015, FSSAI banned Maggi noodles for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the market. Industry observers opine that only after the Maggi crisis did the FSSAI come into the limelight across the country though it was established almost seven years ago, in September 2008, to lay down science-based standards for food articles and rules and regulations. Nestle India relaunched Maggi in November 2015 after the ban was .
In the past one month, the FMCG index has tanked nearly 11 per cent, as against 6 per cent decline in the BSE Sensex.
Rising food inflation leading to sluggish FMCG demand
The developments come at a time when the markets are already grappling with geopolitical developments in West Asia and the uncertainty surrounding the outcome of the US presidential polls
FMCG major Nestle India on Thursday said it will soon launch variants "with no refined sugar" of its infant food Cerelac. The announcement is important as Nestle India, part of Swiss multinational Nestle SA, recently faced criticism for having added sugar in Cerelac. In the company's earnings statement CMD Suresh Narayanan said: "We have achieved our ambition of introducing Celerac variants with no refined sugar." This was initiated three years ago and culminated this year with the introduction of new Cerelac variants with no refined sugar, he added. "The expanded Cerelac range in India will now consist of 21 variants, of which 14 variants will have no refined sugar," he said. Of these 14 variants, 7 will be available by end of November 2024 and the rest will be introduced in the coming weeks, he added. In April this year, Public Eye, a Swiss investigative organisation, and the International Baby Food Action Network (IBFAN), alleged that Nestle added sugar to its Cerelac products
The company confirmed that seven of the 14 sugar-free versions will be available in Indian stores by the end of November, with the remaining seven set to be introduced in the following weeks