High ROE and High ROCE multibagger stock: Board likely to announce stock split for the first time ever; scrip jumps over 4 per cent!

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

Nestle India Ltd. informed that a meeting of the Board of Directors of the company is scheduled to be held on Thursday, October 19, 2023, to consider the unaudited financial results of the Company for the third quarter and nine months ended 30th September 2023.

Additionally, the Board of Directors will also consider the following proposals:

1) Declaration of the second interim dividend for the year 2023, if any. An intimation of the record date for the dividend is November 01, 2023. The second interim dividend for the year 2023, in case declared, shall be paid on and from November 16 2023.

2) Alteration in the share capital of the company by sub-division/ stock split of existing equity shares having a face value of Rs 10 each, fully paid up, as may be determined by the Board of Directors.

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 lakh crore and is completely debt-free, with only 288 crores of debt remaining. Additionally, the company has reported amazing numbers in its Quarterly Results & annual results and has been maintaining a healthy dividend payout of 90.8 per cent.

On Wednesday, one of the Top Gainers on the BSE Sensex Index, shares of Nestle India gained 4.45 per cent to an intraday high of Rs 23,333.65 per share from its previous closing of Rs 22,338.15. The stock’s 52-week high is Rs 23,390 and its 52-week low is Rs 17,888. The shares of the company saw a spurt in volume by more than 4 times on BSE.

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 150 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.