GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of Maggi-maker Nestle India on Saturday rose 3% to the day's high of Rs 2,514.65 after the MNC's shareholders rejected a proposal to increase royalty payments to its Swiss parent Nestle. Results of a remote e-voting by shareholders show that 57.18% of the votes were cast against the proposal for increasing royalty from 4.5% to 5.25% in a staggered manner over 5 years by making an increase of 0.15% per annum. Earlier in April, Nestle India board had approved paying the royalty fee to its parent company Nestle S.A. "This will ensure ongoing access to the entire capabilities of Nestle...and will enable Nestle India to continue to deliver long-term sustainable profitable growth and Create Shared Value for society and its shareholders," Nestle India chairman and managing director A Helio Waszyk had said earlier. Nestle SA had asked two years ago for a review of the two decades old royalty rates.Nestle India has a Gener...

[hfe_template id='11223'] [ad_1] Nestle India’s share price fell on Friday to the day’s low of Rs 2,511.60, dropping 2% after the company declared its Q4 results on Thursday. The standalone net profit rose 27% year-on-year (YoY) to Rs 934 crore for the March quarter as compared to Rs 737 crore a year ago. Revenue rose 9% to Rs 5,268 crore, up from Rs 4,831 crore, the FMCG major said in a regulatory filing. The company has also informed the exchanges about changing the financial year from “1st January - 31st December” cycle to “1st April - 31st March” cycle. Accordingly, the current financial year of the company stands extended up to March 31, 2024, covering a period of 15 months commencing from January 1, 2023, to March 31, 2024, comprising five quarters. Here’s what brokerages have to say about the stock performance: Goldman Sachs Goldman Sachs sees the March quarter as a strong one driven by margin expansion. They believe that gross margins may not sustain as input cos...