Nestle India Falls 8% as Cost Inflation Concerns Pressure Shares
Nestle India shares fell 8% on Thursday amid cost inflation concerns, while ICICI Securities analyst Manoj Menon said the company is better insulated than rural-heavy rivals.
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03:56:53 AM UTC
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Nestle India shares extended their losses on Friday after plunging nearly 8 percent in the previous session following the company's fiscal second quarter earnings. Brokerage HSBC maintained its 'Hold' rating on the stock with a target price of Rs 1,480, implying an upside of around 16 percent from…
New Delhi, Oct. 16 -- FMCG and retail stocks are under pressure as inflation concerns and weak monsoons threaten India's consumption narrative. Nestle India shares plunged 8% on Thursday amid growing worries of cost inflation.However, Manoj Menon, head of research and consumer analyst at ICICI Secu…