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    HomeNewsBusinessStocksHold Nestlé India; target of Rs 23000: ICICI Direct

    Hold Nestlé India; target of Rs 23000: ICICI Direct

    ICICI Direct recommended hold rating on Nestlé India with a target price of Rs 23000 in its research report dated April 25, 2023.

    Broker Research
    April 28, 2023 / 13:19 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 16000 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 110 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 maintain our HOLD rating on the stock. We value the stock at Rs 23000, valuing the business 65x CY24 earnings.

      For all recommendations report, click here

      Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

      Nestlé India - 27 -04 - 2023 - icici
      Broker Research
      first published: Apr 28, 2023 01:19 pm

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