Buy Nestle India, target Rs 7,750: Kunal Bothra
Buy Nestle India at a price target of Rs 7,750 and a stop loss at Rs 6,800 from entry point.
The current market price of Nestle India is Rs 7137.75.
Time period given by analyst is intraday when Nestle India price can reach defined target.
Kunal Bothra recommended to keep stoploss at Rs 6800.
Nestle India, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 68819.13 Crore) operating in Food Processing sector.
Nestle India key Products/Revenue Segments include Milk Products which contributed Rs 4713.66 Crore to Sales Value (49.32 per cent of Total Sales), Prepared Dishes & Cooking aids which contributed Rs 2298.89 Crore to Sales Value (24.05 per cent of Total Sales), Beverages which contributed Rs 1294.92 Crore to Sales Value (13.55 per cent of Total Sales), Chocolate which contributed Rs 1184.25 Crore to Sales Value (12.39 per cent of Total Sales), Export Incentives which contributed Rs 46.52 Crore to Sales Value (0.48 per cent of Total Sales) and Scrap which contributed Rs 18 Crore to Sales Value (0.18 per cent of Total Sales)for the year ending 31-Dec-2016.
For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 2386.54 Crore, down 3.60 per cent from last quarter Sales of Rs 2475.68 Crore and up 5.78 per cent from last year same quarter Sales of Rs 2256.09 Crore.
Company has reported net profit after tax of Rs 263.43 Crore in latest quarter.
The company’s top management includes Dr.Rakesh Mohan, Dr.Swati A Piramal, Mr.Ashok Kumar Mahindra, Mr.Martin Roemkens, Mr.Rajya Vardhan Kanoria, Mr.Ravinder Narain, Mr.Shobinder Duggal, Mr.Suresh Narayanan, Ms.Rama Bijapurkar.
Company has A F Ferguson & Co. as its auditors.
As on 31-03-2017, the company has a total of 96,415,716 shares outstanding.