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Hold Nestlé India: target of Rs 20450: ICICI Direct

ICICI Direct recommended hold rating on Nestlé India with a target price of Rs 20450 in its research report dated October 20, 2021.

October 21, 2021 / 05:18 PM IST
 
 
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ICICI Direct's research report on Nestlé India


Nestlé India (NIL) is the largest food company in India with over Rs 13000 crore of sales. It is broadly present in infant & baby food products, noodles,chocolates & beverages categories. In the last five years, the company has forayed into newer categories and launched more than 80 new products. The company has eight manufacturing facilities while a new plant in Sanand, Gujarat got commissioned during the quarter. Its major brands include Maggi, Nescafe, KitKat, Cerelac among others


Outlook


We continue to maintain our HOLD rating on the stock We value the stock at Rs 20450, valuing the business 65x FY24 earnings


For all recommendations report, click here

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first published: Oct 21, 2021 05:18 pm

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