52-week high alert: Don’t miss action in this high ROE & ROCE multibagger stock as it announces stock split; scrip gains over 5 per cent!
The stock gave multibagger returns of 135 per cent in 5 years and over 380 per cent in a decade.
December 19, 2023, marked a triumphant day for Indian investors, as both Sensex and Nifty soared to new all-time highs. The BSE Sensex Index made a new all-time high of 71,623.71 and NSE Nifty-50 made a new all-time high of 21,505.05.
Along with the market at a record high, one high ROCE and high ROCE FMCG stock made an all-time high and 52-week high. The stock gained 5.51 per cent to an intraday high of Rs 25,699 per share from its previous closing of Rs 24,356.20, being the Top Gainers on the BSE Sensex Index. The shares of the company saw a spurt in volume by more than 6.56 times on BSE. At the closing bell, shares of the company were trading at Rs 25,485.40, up 4.64 per cent.
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 2.50 lakh crore and it is almost debt-free, with only Rs 288 crore of debt remaining.
The sudden rise in the stock price is due after the Board of Directors has 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 as of record date. The company fixed the record date as Friday, January 05, 2024.
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 shares of the company have an ROE of 108 per cent and an ROCE of 138 per cent. The stock gave multibagger returns of 135 per cent in 5 years and over 380 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.
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