Nestle shares rise on introduction of healthier food options

The scrip touched its fresh 52-week high of Rs 7,120.05 on August 31, 2017 and its 52-week low of Rs 5,701.05 on November 11, 2016. NSEBSENestleLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES NEW DELHI: Shares of Nestle advanced in Thursday’s trade after the company said that it is focusing on supporting home cooking with healthier options by introducing a few initiatives such as simplifying ingredients, reducing sodium and increasing micronutrient fortification among other.

    Following the development, the stock gained 1.80 per cent to Rs 7,075 on BSE. It opened at Rs 7,000 and touched an intraday high and low of Rs 7,075 and Rs 6,943.20 respectively, in the first hour of trade.

    «The iconic Maggi brand is on a mission to support home cooking with healthier and tastier choices, by simplifying ingredients, reducing sodium and increasing micronutrient fortification. The launch of Maggi Nutri-Licious noodles range is in continuation to our commitments towards Maggi ‘Simply Good’ initiative,» ET reported Nestle’s general manager, Maarten Geraets as saying.

    Promoters held 62.76 per cent stake in the company as of June 2017.

    For the quarter ended June 30, 2017, Nestle reported total revenue at 2,484.73 crore and net profit stood at 263.43 crore.

    The scrip touched its fresh 52-week high of Rs 7,120.05 on August 31, 2017 and its 52-week low of Rs 5,701.05 on November 11, 2016.

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