Feb 15, 2017 04:26 PM IST | Source: CNBC-TV18

Nestle India may test Rs 6350: Shahina Mukadam

Shahina Mukadam, Independent Market Expert feels that Nestle India may test Rs 6350.

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "Maggi should help Nestle India to post much better numbers in this quarter. They will do much better because the base was very low. On a year-on-year (Y-o-Y) basis it should look very good optically but on a sequential basis, because of demonetisation, we cannot say what the impact will be on the numbers. So one should diversify the risk and not get into a single stock and that also with a short-term view in a single stock."

"At the same time, the numbers should be okay and I would give a target of Rs 6,350. Valuations remain expensive but they have always been expensive, one year forward as 50 times earnings with a longer-term view, I don’t think one can lose on the stock," she added.

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