Nestle India shines on getting nod to resume operations

Packaged food & beverage company, Nestle India informed the exchanges that all its manufacturing locations have received permissions to operate from various state governments and local authorities. Hence, in-line with the government directives, the company will be running these plants at scaled-down levels.

The scaled-down operations at various locations are essentially on account of applicable social distancing norms and lesser deployment of people. The scaling up, scaling down or suspension of operations at various locations is dependent on the directions of the central and state governments as well as authorities, the company said in a statement.

The company that is set to announce its March quarter earnings on May 12, 2020, said that the impact of the lockdown on the company’s operations cannot be assessed at this point of time. It continues to closely monitor the situation and take all necessary measures.

Reacting to the news, on Wednesday, the stock closed at Rs 17,603, up by 3.57 per cent or Rs 606.35 per share. The 52-week high is recorded at Rs 18,301 and the 52-week low is Rs 10,126.45 on BSE.