Nestle Financial News

Orissa Minerals Development Company(up 6.26%), Pokarna(up 5.12%), KIOCL(up 4.99%), Coal India(up 2.85%), Gujarat Mineral Dvpt Corporation(up 1.92%), Ashapura Minechem(up 1.65%), NMDC Ltd(up 1.55%), Oriental Trimex(up 1.54%), Aro Granite Industries(up 1.07%) and Lexus Granito(up 0.26%) stood among the top gainers. MOIL(down 0.74%) and Madhav Marbles and Granites(down 0.51%) were among the top losers of the day.

Question: We are an Indian-based entity with various group companies in foreign jurisdictions. There are many intercompany transactions with such group companies which are subjected to a lower withholding tax rate in accordance with the relevant treaty owing to MFN. Kindly highlight the recent Supreme Court judgement in the case of applicability of the Most Favoured Nation MFN.

Unilever and Nestle disappointed investors with weak third-quarter sales volumes, but that could change in the coming months as price increases moderate. Companies have hiked prices since the COVID-19 pandemic to make up for higher costs, prompting some shoppers to look for better deals. The slide in sales volumes of big brands only grew worse after the Ukraine war sparked a cost of living crisis. Top U.S.

Relative Strength Index (RSI), which helps gauge the momentum and overbought or oversold conditions of a stock. In this article, we'll discuss RSI, why it's vital in assessing stock movements, and explore five stocks currently in the overbought zone with bearish RSI trends. The Relative Strength Index (RSI) is a widely used momentum oscillator that measures the speed and change of price movements.

Sikko Industries(up 4.37%), Fertilizers & Chemicals Tranvancore(up 2.12%), Deepak Fertilizers & Petrochemicals(up 2.06%), G S F C(up 1.71%), Coromandel International(up 0.69%), Madras Fertlizers(up 0.60%) and Krishana Phoschem(up 0.21%) stood among the top gainers. Aries Agro(down 3.76%), National Fertilizer(down 2.58%), ZUARIAGRO(down 1.79%), Agro Phos(down 1.55%), Rama Phosphates(down 1.45%), Paradeep Phosphates(down 1.43%), Mangalore Chemicals & Fertilizers(down 1.38%), Madhya Bharat Agro Products(down 1.21%), Southern Petrochemicals Industries(down 0.75%) and Gujarat Narmada Valley Fertilizers (down 0.67%) were among the top losers of the day.

Wonderla Holidays shares surged by 10% in today's trading session, reaching a historic high of ₹887 per share. This significant increase came after the company received all the necessary approvals, clearances, and no-objection certificates (NOCs) from the Government of Tamil Nadu for its Chennai project. With these key permissions now in hand, Wonderla is set to commence construction on this project.

MAGADHSUGAR(up 7.63%), AVADHSUGAR(up 5.62%), Dhampur Sugar Mills(up 3.97%), Shree Renuka Sugars(up 3.63%), Kothari Sugars & Chemicals(up 3.17%), Triveni Engineering & Industries(up 3.09%), Mawana Sugars(up 2.91%), DCM Shriram Industries(up 2.90%), Uttam Sugar Mills(up 2.86%) and Dwarikesh Sugar Industries(up 2.76%) were among the top gainers. K.M.Sugar Mills(down 0.63%) were among the top losers.

Amber Enterprises and Macquarie remained neutral on Nestle India. HSBC downgraded HUL to hold and Motilal Oswal upgraded PNB Housing Finance to buy. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Amber Enterprises: Buy| Target Rs 3650 CLSA maintained a buy rating on Amber Enterprises with a target price of Rs 3650.

Byju's, operated by Think & Learn Pvt Ltd, in April 2023, after a multi-year search for a chief financial officer. “I thank the founders and colleagues at BYJU’S for helping me assemble the FY22 audit in three months. I appreciate the support received during a short but impactful stint at BYJU’S," Goel said in a statement.

healthcare company Affinity Petcare will invest 20% of its revenues from India on marketing and promotions, where it is aiming to become a top three player in the clinical nutrition space, Jordi Garriga, international business director, Affinity Petcare, said. Affinity Petcare has entered the India market in partnership with pet foods and products maker Scientific Remedies. The company has first launched Affinity Advance, the flagship brand of Affinity Petcare in India, a market that is forecasted to touch $1,932.6 million by 2030. Garriga said the company is forecasting to become a top three player in clinical nutrition over the next 8 to 10 years. Affinity Petcare, a family owned business, will have an India portfolio for premium therapeutic, wellness and speciality nutrition products for pets, the company said. These will be retailed in vet clinics, pharmacies and vet partnered pet shops.

Mint delves deeper. Not yet. Hindustan Unilever posted a flat profit in Q2FY24 compared to same period last year.

By Richa Naidu and David Randall

tax demands for close to ₹11,000 crore on dividend income repatriated from India, following a Supreme Court ruling last week. The Supreme Court said on Thursday that the lower 5% withholding tax on dividend income of companies was not available to all Organisation for Economic Co-operation and Development (OECD) countries merely on the most favoured nation (MFN) basis. The apex court held that the 5% rate would be available only to companies based in countries with which India had notified a double taxation avoidance agreement (DTAA) allowing it. In the absence of this, companies have to pay 10% tax on dividend income.

FMCG industry amid lukewarm consumer demand and a fall in rural consumption. Sticky food inflation and uneven rains in some regions hurt demand during the quarter. Rural demand has continued to be sluggish, and some green shoots, which were visible in the preceding June quarter, seem to have fizzed out in the wake of adverse conditions. In their September quarter earnings commentaries, top FMCG companies like HUL, ITC and Nestle flagged worry over uneven rains, the impact of crop output and rising prices of some commodities (wheat, maida, sugar, potato, coffee, etc). As per ITC's statement, «Consumption demand has been relatively subdued, especially in the value segment and rural markets on the back of sub-par monsoons and persistent Food inflation, which saw a sharp spike during the quarter.» Analysts said that sticky inflation has hit rural demand, which make up more than one-third of FMCG sales, because consumers are still going cautious on discretionary spending. Nestle India's commentary also suggested an «adverse impact on pricing» due to the rain deficit mentioned above. «Uneven rain and rain deficit is expected to impact production of maize, sugar, oilseeds and spices that may have an adverse impact on pricing,» Nestle India said, adding that «coffee continues to be volatile because of the global supply deficit.

Israel and Hamas, killing thousands of civilians. Dozens of leaders and senior officials from the Middle East, Europe, and Africa converged on Cairo, searching for ways to prevent the Israel-Hamas war from becoming a wider conflict. UN chief Antonio Guterres pleaded Saturday for a “humanitarian ceasefire" in the war between Israel and the Hamas terror group.

Mayuresh Joshi, Head- Equity Research, William O Neil India, says FMCG companies will have to ramp up their ad spends if they need to push their products through and their SKUs across price points in different markets and in different geographies as well to probably ensure that volume/value growth happens at a reasonable pace. Having said that, valuations are not too cheap within the space for HUL and Nestle and therefore, the stocks might just go into both time and price wise correction. What was your takeaway from Nestle, ITC and Unilever's performance? Volume growth that was anticipated by the markets has definitely come a tad lower both for HUL and Nestle – 2% for HUL and 4-5% for Nestle.

Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.in "Exciting news! Mint is now on WhatsApp Channels

By Naomi Rovnick and John Revill

KCP Sugar & Industries(up 4.89%), Rajshree Sugars & Chemicals(up 3.74%), Bannari Amman Sugars(up 1.04%), Uttam Sugar Mills(up 0.38%) and Balrampur Chini Mills(up 0.24%) stood among the top gainers. Simbhaoli Sugars(down 2.60%), Triveni Engineering & Industries(down 2.55%), Dhampur Sugar Mills(down 2.39%), Ponni Sugars(Erode)(down 2.09%), Ugar Sugar Works(down 2.09%), DCM Shriram Industries(down 1.88%), K.M.Sugar Mills(down 1.71%), Shree Renuka Sugars(down 1.69%), Mawana Sugars(down 1.32%) and Dalmia Bharat Sugar & Industries(down 1.31%) were among the top losers of the day.

Dangee Dums(up 4.15%), Colgate Palmolive(India)(up 1.07%), Emami(up 0.96%), Zydus Wellness(up 0.81%), Nestle India(up 0.61%), Godrej Consumer Products(up 0.43%), TATA CONSUMER PRODUCTS(up 0.40%), Tasty Bite Eatables(up 0.17%) and Vadilal Industries(up 0.05%) stood among the top gainers. Nakoda Group(down 3.22%), Parag Milk(down 3.10%), Umang Dairies(down 2.46%), Hindustan Unilever(down 2.08%), Bajaj Consumer(down 1.87%), Heritage Foods(down 1.84%), JHS Svendgaard Laboratories(down 1.70%), ADF Foods(down 1.50%), Jyothy Labs(down 1.41%) and P & G Hygiene(down 1.29%) were among the top losers of the day.

The NSE Nifty index was trading 68.6 points down at 19556.1, while BSE Sensex was down 194.21 points at 65435.03 at the time of writing this report. In the Nifty index, Nestle India Ltd.(up 2.05 per cent), Kotak Mahindra Bank Ltd.(up 0.91 per cent), IndusInd Bank Ltd.(up 0.63 per cent), Tata Consultancy Services Ltd.(up 0.43 per cent) and SBI Life Insurance Company Ltd.(up 0.29 per cent) were among the top gainers.