Nestle Financial News

Top Gainers: Axis Bank (up 3.40%), ICICI Bank (up 2.48%), HDFC Bank (up 2.32%), Tech Mahindra (up 1.80%), and Larsen & Toubro (up 1.56%).Top Losers: Power Grid Corporation Of India (down 1.64%), Tata Steel (down 1.24%), Asian Paints (down 1.16%), Nestle India (down 0.56%), and Maruti Suzuki India (down 0.52%).Top Gainers: Shriram Finance (up 3.73%), Axis Bank (up 3.53%), ICICI Bank (up 2.38%), HDFC Bank (up 2.33%), and HDFC Life Insurance Company (up 1.98%).Top Losers: Bharat Petroleum Corporation (down 2.93%), Eicher Motors (down 1.97%), Power Grid Corporation Of India (down 1.67%), Asian Paints (down 1.30%), and Tata Steel (down 1.28%).Top Gainers: HDFC Asset Management Company, L&T FINANCE, Indian Hotels Company, Alkem Laboratories, and MRF.Top Losers: Oberoi Realty, NMDC, Bandhan Bank, Suzlon Energy, and Tube Investments Of India.Top Gainers: Raymond, JBM Auto, Olectra Greentech, City Union Bank, and Nippon Life.Top Losers: Happiest Minds Technologies, Mangalore Refinery & Petrochemicals, Creditaccess Grameen, Navin Fluorine International, and Chambal Fertilisers & Chemical.Top Gainers: Raymond (up 7.43%), Godrej Agrovet (up 6.83%), Welspun Corp (up 5.74%), Lakshmi Machine Works (up 5.48%), and Patanjali Foods (up 5.01%).Top Losers: Happiest Minds Technologies (down 9.44%), Macrotech Developers (down 4.77%), United Breweries (down 4.23%), Indiabulls Real Estate (down 3.96%), and Mangalore Refinery & Petrochemicals (down 3.87%).Top Gainers: Raymond (up 6.46%), Welspun Corp (up 5.74%), Westlife Development (up 4.96%), LIC Housing Finance (up 4.90%), and Patanjali Foods (up 4.70%).Top Losers: Happiest Minds Technologies (down 9.46%), Macrotech Developers (down 4.43%), United Breweries (down 4.14%), Oberoi Realty (down

Mint. An email sent to Khaitan seeking comment went unanswered. Shareholders at other large Indian companies have also been voicing their displeasure in recent times, such as when Wipro sought to award former chief executive Thierry Delaporte a ₹36 crore cash severance last month.

Bank Nifty was down by -186.55(-0.36%) at 24 Jun 2024 10:44:58 IST.Other stocks such as Future Supply Chain Solutions, CMI, Bafnapharm, Kanani Industries, Secur Credentials hit their fresh 52 wk lows today.

Nifty on Monday morning fell over 100 points while Sensex also lost 400 points with heavyweights HDFC Bank, RIL, and SBI leading the downside. The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation.

Simbhaoli Sugars Ltd.(up 1.98%), DCM Shriram Industries Ltd.(up 1.02%), Rajshree Sugars & Chemicals Ltd.(up 0.61%), Dalmia Bharat Sugar and Industries Ltd.(up 0.46%), Balrampur Chini Mills Ltd.(up 0.38%) and Shree Renuka Sugars Ltd.(up 0.04%) stood among the top gainers.

Prataap Snacks Ltd.(up 8.64%), ADF Foods Ltd.(up 7.46%), Honasa Consumer Ltd.(up 5.54%), Bajaj Consumer Care Ltd.(up 2.55%), Sheetal Cool Products Ltd.(up 2.49%), JHS Svendgaard Laboratories Ltd.(up 1.96%), Gillette India Ltd.(up 1.87%), Dangee Dums Ltd.(up 1.27%), Nakoda Group Of Industries Ltd.(up 1.22%) and Jyothy Labs Ltd.(up 1.16%) stood among the top gainers.

The Fertilisers and Chemicals Travancore Ltd.(up 4.05%) stood among the top gainers.

Benchmark NSE Nifty index fell 33.05 points to 23533.95 amid selling in frontline bluechip stocks.

Milkfood Ltd Share Price: Shares of fast-moving consumer goods (FMCG) major Milkfood Ltd rallied 20 per cent on Thursday, June 20, after the company announced that it may consider announcing an interim dividend and a bonus issue soon. The FMCG major declared that it will conduct its board meeting on June 25 where it may consider approving the dual corporate action.In a regulatory filing to the stock exchanges, Milkfood said, ‘’We hereby inform you that a Meeting of the Board of Directors of the Company will be held on Tuesday, the 25th day of June, 2024 to inter alia, consider and approve the following matter:1.

NEW DELHI:Packaged foods company Nestle India has said it has benefitted "immensely" from its parent company's intellectual property rights, or IPRs, over the years, leading to greater speed of innovation as well as cost-savings to the business. The statement comes in the wake of a majority of shareholders rejecting a proposal to increase the royalty payout to its Swiss parent, Société des Produits Nestlé S.A., from 4.5% to 5.25% per annum.

Tasty Bite Eatables Ltd.(up 3.46%), Varun Beverages Ltd.(up 2.44%), Bikaji Foods International Ltd.(up 1.79%), Umang Dairies Ltd.(up 1.75%), Sheetal Cool Products Ltd.(up 1.59%), LT Foods Ltd.(up 1.45%), Emami Ltd.(up 1.27%), Prataap Snacks Ltd.(up 1.14%), Dangee Dums Ltd.(up 1.11%) and Nakoda Group Of Industries Ltd.(up 1.08%) were among the top gainers.

Mint takes a look at how recent proposals to increase royalty payouts fared in the consumer goods space in India. The Indian subsidiaries of major foreign fast-moving consumer goods, or FMCG, companies often pay a fee known as royalty to their parent companies. This grants them access to resources, including globally recognised brands, technology, research and development capabilities, and shared services used throughout the entire organisation.

Nestlé S.A., the company said in a filing to the exchanges Wednesday.On Wednesday, the company’s board approved continuation of payment of royalty at the existing rate of 4.5% to its parent company. In May, the company’s proposal to increase royalty payout was rejected by shareholders.“Respecting the decision of the members and feedback from other stakeholders, the board of directors on the recommendation of the audit committee, with only the independent directors voting and the executive directors recusing, approved continuation of payment of general licence fees (royalty) by the company to Société des Produits Nestlé S.A.

Nestle India on Wednesday said it has changed the record date for the payment of the final dividend to July 16 from July 15 earlier. Earlier, the company's Board had recommended a final dividend of Rs 8.5 per for the fifteen months ending March 2024. The record date will determine who will be eligible to receive the said dividend payment.

Patanjali Foods Ltd.(up 5.36%), Heritage Foods Ltd.(up 5.12%), Prataap Snacks Ltd.(up 4.81%), Honasa Consumer Ltd.(up 4.44%), Vadilal Industries Ltd.(up 2.58%), Nakoda Group Of Industries Ltd.(up 2.49%), Dodla Dairy Ltd.(up 2.43%), Nestle India Ltd.(up 1.83%), Varun Beverages Ltd.(up 1.81%) and Gillette India Ltd.(up 1.73%) stood among the top gainers.

The Fertilisers and Chemicals Travancore Ltd.(up 14.67%), National Fertilizers Ltd.(up 11.69%), Paradeep Phosphates Ltd.(up 9.97%), Nagarjuna Fertilizers and Chemicals Ltd.(up 9.65%), Rashtriya Chemicals & Fertilizers Ltd.(up 8.84%), Madras Fertilizers Ltd.(up 8.66%), Sikko Industries Ltd.(up 8.42%), Southern Petrochemicals Industries Corporation Ltd.(up 8.38%), Zuari Agro Chemicals Ltd.(up 6.45%) and Gujarat State Fertilizer & Chemicals Ltd.(up 6.02%) stood among the top gainers.

Bannari Amman Sugars Ltd.(up 2.84%), Ponni Sugars(Erode)Ltd.(up 2.20%), Triveni Engineering & Industries Ltd.(up 1.53%), EID Parry(India)Ltd.(up 1.39%), Dwarikesh Sugar Industries Ltd.(up 1.03%), Avadh Sugar & Energy Ltd.(up 1.01%), Dalmia Bharat Sugar and Industries Ltd.(up 0.81%), Dhampur Sugar Mills Ltd.(up 0.50%), DCM Shriram Industries Ltd.(up 0.15%) and Vishwaraj Sugar Industries Ltd.(up 0.13%) stood among the top gainers.

Bank Nifty was up by 32.7(0.07%) at 10 Jun 2024 10:44:55 IST.Other stocks such as Shubhlaxmi Jewel Art, Compuage Infocom, Future Supply Chain Solutions, Chemplast Sanmar, Morarjee Textiles hit their fresh 52 wk lows today.

Also Read: From Monsoon to rate cut: 5 crucial triggers for Indian stock marketOverall, in the last three sessions, the Nifty FMCG index has gained 6.40%, with 6 out of 15 constituents, including United Spirits, Godrej Consumer Products, Colgate-Palmolive, Marico, Dabur India, and Britannia Industries, touching new 52-week highs with gains ranging between 4% and 8%. The spike in FMCG stocks was fueled by the positive forecast for monsoon rainfall, which is anticipated to strengthen rural recovery.

Bank Nifty was up by 527.1(1.07%) at 06 Jun 2024 10:44:55 IST.Other stocks such as Secur Credentials, Compuage Infocom, Morarjee Textiles, Vaxtex Cotfab, GSS Infotech hit their fresh 52 wk lows today.