Northern Lights Fund Trust III bought 7,995 shares of this multibagger stock: Board announces stock split & dividend; scrip hit 52-week high!

The shares of the company have an ROE of 108 per cent and an ROCE of 138 per cent.

Indian stock markets fell on Friday, with the BSE Sensex Index down 0.35 per cent and the NSE Nifty-50 Index down 0.42 per cent.

Despite the overall market decline, one multibagger FMCG stock made a new 52-week high. The stock gained 2.54 per cent to reach an intraday and 52-week high of Rs 24,735.50 per share and closed the day at Rs 24,266.60 per share, up 0.60 per cent. The shares of the company saw a spurt in volume by more than 3.78 times on BSE.

Block Deal Update: On Friday, October 20, 2023, Northern Lights Fund Trust III Rondure New World Fund bought 7,995 shares via a block deal from Rondure New World Fund.

A block deal is a large trade of securities, typically at least 500,000 shares or Rs 5 crore in value, that is negotiated between two parties outside of the open market. Block deals are often used by institutional investors to buy or sell large blocks of shares without impacting the market price.

In this example, Northern Lights Fund Trust III Rondure New World Fund bought 7,995 shares of Rondure New World Fund in a block deal. This means that the two parties negotiated a price and quantity of shares directly with each other, and the trade was executed outside of the open market.

stock split & dividend Update: The Board of Directors have approved the alteration in the share capital of the company by sub-division/ split of existing equity shares having a face value of Rs 10 each, fully paid up, into 10 equity shares having face value of Rs 1 each fully paid-up, subject to the approval of members of the company. Additionally, The Board have declared a second interim dividend for 2023 of Rs140 per equity share (Face value Rs 10/- per equity share) amounting to Rs 1,349.82 crore, which will be paid on and from November 16, 2023. This is in addition to the first interim dividend of Rs 27 per equity share paid on May 08, 2023.

Quarterly Results: The net sales increased by 9.45 per cent to Rs 5,036.82 crore, operating profit increased by 21.59 per cent to Rs 1,258.24 crore and net profit increased by 37.27 per cent to Rs 908.08 crore in Q3FY23 compared to Q3FY22. (Company follows calendar year format.)

The stock name is NESTLE INDIA LTD.

Nestle India Ltd. manufactures brand-name milk products and other food products. The company's products include everyday dairy whitener, milk powder and ghee, milkmaid sweetened condensed milk and cereals weaning foods. Nestle's beverages include Nescafe, Sunrise Coffee and Nesfit enriched glucose powder. Nestle also manufactures Maggi noodles, soups and sauces. The company has a market capitalization of over Rs 2.3 lakh crore and is completely debt-free, with only Rs 288 crore of debt remaining.

The shares of the company have an ROE of 108 per cent and an ROCE of 138 per cent. The stock gave multibagger returns of 155 per cent in 5 years and over 350 per cent in a decade. Investors should keep an eye on this Large-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.