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Hold Nestlé India; target of Rs 21600: ICICI Direct

ICICI Direct recommended hold rating on Nestlé India with a target price of Rs 21600 in its research report dated July 28, 2022.

July 31, 2022 / 01:51 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 14000 crore of sales. It is broadly present in infant & baby food products, noodles, chocolates & beverage categories. In the last five years, the company has forayed into newer categories and launched more than 100 new products. The company has nine manufacturing facilities including newly commissioned plant in Sanand, Gujarat. 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 21600, valuing the business 65x CY24 earnings.

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Nestlé India - 290722 - ici

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first published: Jul 31, 2022 01:51 pm
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