Stock Split: The company giving huge dividend will take decision on stock split on October 19.

The company has informed the stock exchange that it will consider share split in the board meeting to be held on October 19.

The board of Nestle India will consider the proposal for share split of shares of face value of Rs 10 of the company on October 19. Apart from this, decision on dividend can also be taken in the company’s board meeting. The Maggi noodles maker has been one of the best performing Nifty 50 stocks in share split 2023. It has given returns of about 14 percent year-to-date and touched a 52-week high of Rs 23,395.35 in July. Last week, analysts at brokerage UBS had reduced their rating on Nestle India from ‘buy’ to ‘neutral’.

What is share split?

Reducing the face value of a share is called share splitting. Along with the split, the market price of the shares on the record date will also be adjusted into two parts. Share split is done specifically for the purpose of increasing liquidity and volume. The purpose of doing share split is to make more and more retail investors as shareholders. .

Nestle India quarterly results

In comparison to the April-June quarter of the financial year 2022-23, the company’s profit increased from Rs 515 crore to Rs 698.3 crore in the April-June quarter of the financial year 2023-24. Whereas in the April-June quarter the company’s income increased from Rs 4,036.6 crore to Rs 4,658.5 crore. During this period, the company’s EBITDA increased from Rs 849 crore to Rs 1,058.8 crore.

What does Nestle India do?

Know about Nestle India Limited- Nestle India is a subsidiary of Swiss company Nestle. The headquarters of the company is in Gurugram, Haryana. The company manufactures food beverages, chocolates and confectionery products.

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