ICICI Direct has given Hold recommendation for Nestlé India with a target price of Rs. 22400 in its research report issued on Oct 19, 2022
ICICI Direct’s research report on Nestlé India
Nestlé India (NIL) is the largest food company in India with over Rs 14000 crore of sales. It is broadly present in infant & baby food products, noodles, chocolates & beverage categories. In the last five years, the company has forayed into newer categories and launched more than 100 new products. The company has nine manufacturing facilities including newly commissioned plant in Sanand, Gujarat. Its major brands include Maggi, Nescafe, KitKat, Cerelac among others.