Nestle India tumbles 4%, nears 52-wk low as BoFA downgrades to Underperform

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Nestle India tumbles 4%, nears 52-wk low as BoFA downgrades to Underperform - Business Standard

Quick Summary:

The decline in Nestle's share price came after reports suggested that global brokerage firm BoFA Securities has downgraded the stock to 'Underperform' from 'Neutral.

That said, in a separate report dated February 20, domestic brokerage firm Geojit noted that Nestle has been investing in capacity expansion since 2020, particularly for Maggi, coffee, and chocolate, to support its long-term volume growth objectives.

Moreover, Ebitda is expected to grow 2.6 per cent Y-o-Y, driven by a high base (up 0.4 per cent in Q3FY25; 20.5 per cent in Q4FY24).