February 15, 2018 / 3:59 AM / 6 months ago

BUZZ-Nestle India shares rise on Q4 profit surge

** Nestle India rises as much as 3.9 pct to 7,548.95 rupees, in its biggest intraday pct gain since Nov 6, 2017

** Q4 profit surged nearly 60 pct to 3.12 bln rupees ($48.68 mln), boosted by higher domestic sales

** Jefferies analysts raise rating to “buy” from “hold” and PT to 8,600 rupees from 7,850 rupees

** “Strong result validates underlying fundamental improvement in the core and increased traction of the new launches,” said Jefferies

** Investec raises rating to “hold” from “sell”, PT to 7,200 rupees from 7,000 rupees

** Nineteen of 32 brokerages covering stock rate it “buy” or higher, five “hold” and eight “sell” or lower; median PT 8,434 rupees - Thomson Reuters Eikon ($1 = 64.0950 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below