Recommendation: Reduce; Target price: Rs 3500
According to Nestle, the company's success has been driven by consumer trends and a growing inclination towards brand acceptance in both large and small villages.
The net NPA ratio also increased by 40 % YoY in July-September, with net NPA at Rs 2,366 crore compared to Rs 1,679 crore in the same period last year.
The company is strengthening teams for design services and is refocusing to drive exports of RFID and other EMS solutions with greater proximity to customers.
Excluding the one-time impact of a tax provision reversal, the profit after tax increased by 19.2% during the first half of FY24 and 24.8% during Q2
The company aims to raise Rs 545 crore through this IPO.
Aluminium too, elevated Chinese production is capping the upside even as stable costs and multi-year low inventory levels provide some support on the downside.
The company will not conduct campus hiring due to industry-wide subdued hiring trends
Provisions and contingencies fell 15% to Rs 974 crore.
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