BUZZ — Nestle India slips on inflation concerns, slower revenue growth outlook
* Shares of Nestle India fall 7.8% to 1,275.80 rupees * Steepest intraday decline in over six years since March 23, 2020 * Food processing co cites rising food inflation, input cost pressures and higher commodity costs as key challenges * NEST says higher packaging materials cost and rise in edible oils and agricultural commodity prices could pressure margins * Systematix Group analysts' factor slower revenue growth in coming quarters * Co fails to meet expectations for stronger earnings beat despite 36% jump in second quarter profit * Stock rated "hold" on avg by 35 analysts, with median PT of 1,579.50 rupees - data compiled by LSEG * Stock up 35.57% YTD (Reporting by Anushka Rajvedi in Bengaluru) ((mailto: anushka.rajvedi@thomsonreuters.com)
* Shares of Nestle India fall 7.8% to 1,275.80 rupees * Steepest intraday decline in over six years since March 23, 2020 * Food processing co cites rising food inflation, input cost pressures and higher commodity costs as key challenges * NEST says higher packaging materials cost and rise in edible oils and agricultural commodity prices could pressure margins * Systematix Group analysts' factor slower revenue growth in coming quarters * Co fails to meet expectations for stronger earnings beat despite 36% jump in second quarter profit * Stock rated "hold" on avg by 35 analysts, with median PT of 1,579.50 rupees - data compiled by LSEG * Stock up 35.57% YTD (Reporting by Anushka Rajvedi in Bengaluru) ((mailto: anushka.rajvedi@thomsonreuters.com)