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30-Nov2017

Nestle India trades in green on the bourses

Nestle India is currently trading at Rs. 7595.00, up by 93.35 points or 1.24% from its previous closing of Rs. 7501.65 on the BSE.

The scrip opened at Rs. 7480.00 and has touched a high and low of Rs. 7613.50 and Rs. 7480.00 respectively. So far 2,697 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8000.00 on 08-Nov-2017 and a 52 week low of Rs. 5750.00 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 7649.80 and Rs. 7405.15 respectively. The current market cap of the company is Rs. 73,227.00 crore.

The promoters holding in the company stood at 62.76%, while Institutions and Non-Institutions held 19.94% and 17.29% respectively.

Nestle India has reportedly reduced prices on three of its products - Maggi, chocolates and coffee. The price of the 25-gm pack of Nescafe coffee witnessed the biggest reduction in price by little over 12% to Rs 70, while the price of the 50-gm pack of Sunrise coffee was pared by 11% to Rs 80. This step has been taken in order to pass on the benefits of the recent reduction in GST rates to the consumer.

It has also cut prices of   of Maggi noodles by 5% to Rs 128. The company has further cut the price for its 75-gm pack of Maggi Atta noodles and 71-gm pack of Maggi Hot Heads by 5% to Rs 19 each. Besides, the company has cut the prices of its 202-gm pack of Munch and 128-gm pack of Kit Kat chocolate by 10% to Rs 90 each.

Nestle India is a subsidiary of Nestle S.A. of Switzerland, a vibrant company that provides consumers in India with products of global standards.



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