Nestle India: Spectacular Q3 Surge and Exciting Stock Rally in October 2023

Nestle India: Spectacular Q3 Surge and Exciting Stock Rally in October 2023
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Nestle India’s Strong Q3 Performance

Nestle India achieved a significant financial milestone in Q3, with their consolidated net profit soaring by an impressive 37% YoY, reaching a substantial Rs 908.1 crore. This remarkable performance marks a substantial leap from the previous year’s profit of Rs 661.4 crore.

Sustained Revenue Growth

Nestle India’s revenue from operations during the same quarter showcased consistent growth. It recorded a robust 9.4% YoY increase and an impressive 8.12% QoQ rise, ultimately reaching Rs 5,036.82 crore. This sustained revenue growth underlines their market resilience.

Suresh Narayanan’s Strategic Insight

Suresh Narayanan, the accomplished leader steering Nestle India’s ship, has displayed unwavering dedication to strengthening the company’s brand. Significantly, substantial investments have been made across all product categories. Notably, they’ve achieved a historic milestone, crossing the Rs 5,000 crore turnover mark, an event etching its place in the annals of the company’s history.

Generous Dividend Declaration

Nestle India has shown their commitment to shareholders by announcing a second interim dividend of Rs 140 per share, resulting in a total payout of an impressive Rs 1,349.82 crore. The eligibility of shareholders to receive this dividend is connected to a record date of November 1.

Restructuring Equity Shares

In a strategic move, Nestle India’s board has approved a transformation of their equity shares. The existing shares, each with a face value of Rs 10, are set to be split into ten equity shares, each carrying a face value of Re 1 per share, making the equity structure more accessible and flexible.

Nestle India Stock Performance: A Positive Week

  • In the last week, Nestle India’s stock had a strong performance, gaining +5%.
  • It reached a high of ₹24,061.60 and a low of ₹22,970.41.

Nestle India Ltd. Current Stock Performance on NSE: October 19, 2023

  • On NSE, Nestle India’s stock is currently trading at ₹24,132.35, with a strong increase of +₹1,869.40, indicating a 3.73% gain.
  • The previous closing price on NSE was ₹23,262.95, and the stock opened at ₹23,256.90.
  • Impressively, the stock reached a high of ₹24,227.00 today, with the lowest price being ₹23,100.50.
  • The trading volume on NSE amounted to 2,92,412 shares, and the Volume Weighted Average Price (VWAP) stands at ₹23,734.56.

Nestle India Ltd. Current Stock Performance on BSE: October 19, 2023

  • On BSE, Nestle India’s stock is trading at ₹24,122.00, showing a substantial increase of +₹1,852.35, reflecting a 3.66% gain.
  • The previous closing price on BSE was ₹23,269.65, and the stock opened at ₹23,279.90.
  • Impressively, the stock reached a high of ₹24,228.75 today, with the lowest price being ₹23,100.00.
  • The trading volume on BSE reached 8,661 shares, and the Volume Weighted Average Price (VWAP) is ₹23,724.64.

Cautiously Optimistic: Positive Signs for Nestle India’s Stock in October 2023

Promising Signal: Anticipating a Positive Trend

  • Nestle India’s stock signals a potential bullish trend.
  • On October 17, 2023, a short-term moving average crossed above a longer-term one, historically resulting in an average gain of 2.06% within a week.

Positive Indicators on Daily Chart

  • On the daily chart, Nestle India’s stock shows positive signs.
  • The previous closing price was ₹23,308.85, and as of October 18, 2023, the last traded price (LTP) is ₹24,057.60.
  • The chart changed from red to green, indicating a positive sentiment.

Notable Signals

  • On October 17, 2023, a bullish signal appeared on the chart.- The 5-day moving average stands at ₹23,219.44.
  • The last time such a signal appeared on October 4, 2023, it resulted in a 1.25% gain.
  • Historical data suggests an average gain of 2.06% within a week following such signals over the past five years.

Average True Range (ATR): Signaling Positivity

  • The Average True Range (ATR) suggests positive potential for Nestle India’s stock:
  • 5 Days: 329.52 – 14 Days: 349.08 – 28 Days: 346.13
  • These numbers are based on recent trading day prices and indicate the stock’s potential for positive movements.

Market Trends Outlook

Stepping into the realm of Nestle India’s October 2023 journey, we encounter a captivating blend of challenges and opportunities. Picture the stage: Uncertain rainfall patterns cast enigmatic shadows over the likes of maize, sugar, and spices, potentially altering the financial landscape.

The global coffee market’s rhythm, driven by unpredictable supply imbalances, sets the scene for a suspenseful performance. The fate of India’s Robusta crop remains a climactic mystery, dictated by unpredictable weather patterns.Yet, there’s a moment of hope as winter approaches – the prospect of an abundant milk supply.

This promise holds the key to maintaining stable prices, offering a comforting respite in an ever-changing market environment. Nestle India’s resolute Q3 performance and the encouraging stock signals paint a vivid portrait of a company not just ready but eager to navigate these intricacies, destined to thrive in the months ahead.

FAQs About Nestle India Stock

What was Nestle India’s Q3 net profit?

Nestle India reported a remarkable consolidated net profit of Rs 908.1 crore in Q3, marking a substantial 37% YoY increase.

How did Nestle India’s revenue perform in Q3?

Nestle India’s revenue from operations in Q3 showed consistent growth, with a strong 9.4% YoY increase and an impressive 8.12% QoQ rise, reaching Rs 5,036.82 crore.

Who is leading Nestle India?

Suresh Narayanan is the accomplished leader guiding Nestle India. He has made substantial investments across all product categories, leading to the company’s historic turnover of over Rs 5,000 crore.

What dividend did Nestle India declare?

Nestle India announced a second interim dividend of Rs 140 per share, resulting in a total payout of Rs 1,349.82 crore. Shareholders eligible for this dividend are determined by a record date of November 1.

What is the equity share restructuring of Nestle India?

Nestle India’s board approved the restructuring of equity shares. Each existing share with a face value of Rs 10 will be split into ten equity shares, each carrying a face value of Re 1 per share, making the equity structure more accessible and flexible.

What was Nestle India’s recent stock performance on NSE and BSE?

On NSE, Nestle India’s stock saw a strong 3.73% gain, with a current price of ₹24,132.35, while on BSE, it showed a 3.66% gain, with a price of ₹24,122.00.

What are the market trends and signals for Nestle India’s stock in October 2023?

Market trends and signals suggest positive potential for Nestle India’s stock. It has shown a potential bullish trend, with historical data indicating an average gain of 2.06% within a week following such signals. The Average True Range (ATR) also suggests positive potential for stock movements.

Disclaimer

The information provided in this blog is for general informational purposes only and should not be considered as professional financial or investment advice. Always conduct thorough research and seek advice from a qualified financial advisor before making any investment decisions. The blog author and publisher are not responsible for any actions taken based on the information provided in this blog. Any reliance on the content is at your own risk. Remember that the financial markets can be volatile, and past performance is not indicative of ture results. The company mentioned in the blog may have undergone changes or developments that are not reflected here. Please verify the information with credible sources before making any financial decisions.

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