Nestle poised for future growth with new launches, shares rise

Reuters | Updated on May 15, 2019

A Nestle logo pictured on a coffee factory in Orbe, Switzerland.   -  REUTERS

Maggi noodles maker Nestle India's shares rose as much as 3 per cent to Rs 10,499.8, its best day in nearly seven weeks.

The company's March-quarter profit and revenue have risen.

Domestic growth of 10.2 per cent y-o-y and commentary on sustained market momentum were a key positive amid talks of a slowdown, Jefferies said.

The company has announced the launch of organic food products; Edelweiss said. Nestle has been strengthening its position in existing brands, enhancing penetration and is in the quest of constant innovations.

Nestle's focus on innovation, new launches, market share and premium products will boost volume-led growth, Edelweiss said.

Shares of the company are down around 8 per cent YTD as of last close.

Published on May 15, 2019

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