** Shares of Nestle India Ltd climb as much as 7.11 pct to an all-time high of 9,619.7 rupees
** Co on Thursday reported a record quarterly profit of 4.24 billion rupees for the March 2018 quarter, 12.7 pct higher than the mean of analysts’ estimate of 3.76 billion rupees - Thomson Reuters Eikon data
** With Friday’s gain, becomes the third-largest consumer staples company in India trade with market cap of $ 13.72 billion, surpassing Avenue Supermart’s market cap of $ 13.56 billion
** ITC and Hindustan Unilever, with market cap of $ 50.9 billion and $ 48.2 billion are, the largest companies in Indian consumer staples space
** Stock breaks above a resistance at 9,529 rupees, the 86.4 pct Fibonacci projection level of the uptrend from Feb 29, 2016 low to Dec 14, 2017 high reut.rs/2ryTWTA
** Breakout suggests stock can move towards 9,945 rupees, the 100 pct projection level
** Stock is up 14.1 pct this year as of Thursday’s close, outperforming the NSE Index’s 1.76 pct gains
Reporting by Gaurav Dogra
