Nestle India market cap surges past Rs 1 lakh cr mark; becomes 3rd FMCG co after HUL, ITC to enter trillion club
FMCG major Nestle India's market valuation has surged past Rs 1 lakh crore mark helped by a rally in its share price.
New Delhi: FMCG major Nestle India's market valuation has surged past Rs 1 lakh crore mark helped by a rally in its share price.
The company's market valuation stood at Rs 1,01,541.66 crore at close of trade on BSE on Tuesday
Shares of the company gained 3.14 percent to end at Rs 10,531.65 on BSE. During the day on Tuesday, it surged 3.55 per cent to Rs 10,574 -- its 52-week high.
At NSE, shares of the company went up by 3 percent to close at Rs 10,511.75 on Tuesday.
Led by the gain in the stock, the company's market valuation rose by Rs 3,096.66 crore to Rs 1,01,541.66 crore on the Bombay Stock Exchange (BSE).
Nestle has also become the third FMCG company after Hindustan Unilever and ITC to command a market valuation of more than Rs 1 lakh crore.
HUL's m-cap stood at Rs 3,64,470.22 crore and that of ITC was Rs 3,29,355.98 crore.
The stock of Nestle has gained over 34 percent so far this year.
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HUL has posted 6.19 percent increase in net profit to Rs 1,183 crore for the fourth quarter ended 31 March