Large Cap Stock Sets Record Date For Final Dividend, Motilal Oswal Assigns Call

Large cap stock operating in FMCG sector, Nestle India Ltd has fixed April 21, 2023 as the record date for final dividend. According to the BSE filing of the company, "interim dividend for the year 2023, in case declared, shall be paid on and from 8th May 2023 along with the final dividend for the year 2022. Meanwhile, Motilal Oswal has assigned neutral call to Nestle India Ltd with target price of Rs 19,875 apiece. Check
details below:

Nestle India Ltd Sets Record Date For Interim Dividend: According to the BSE filing of Nestle India, "This is to inform you that declaration of an interim dividend for the year 2023, if any, shall be considered by the Board of Directors of the Company at their meeting proposed to be held on Wednesday, 12th April 2023. Please note that the Record Date of 21st April 2023 fixed for the purpose of final dividend for the year 2022. , as intimated vide our letter PKR:GA:10:23 dated 16th February 2023, shall also determine the entitlement of the members to an interim dividend for the year 2023 that may be declared by the Board of Directors on 12th April 2023."

Nestle India Stock Performance & Return: Last trading price of Nestle India is Rs 18,945.55 apiece with intraday fall of 0.03%. Its 52-week high is Rs 21,053.00 apiece and 52-week low is Rs 16,000.00 apiece, respectively.

Its market capitalisation is Rs 1,82,664.88 crore. It gave 10% return in last 1-year, 14% return in last 2-years, 25% return in last 3-years, and 134% return in last 5-years.

Valuation: According to Motilal Oswal, in its report dated February 16, 2023, "NEST's valuation at 56x CY24E P/E is expensive and does not offer any significant upside from a one-year perspective. We value the company at 55x Mar'25 EPS to arrive at our TP of INR19,875. We reiterate our Neutral rating on the stock."

About Nestle India: Nestle India manufactures products under internationally famous brand names such as Nescafé, Maggi, Milkybar, Kit Kat, Bar-One, Milkmaid and Nestea and in recent years the Company has also introduced products of daily consumption and use such as Nestlé Milk, Nestlé Slim Milk, Nestlé Dahi And Nestlé Jeera Raita.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.