Brokerage houses downbeat on Nestle India stock

by Paul Joseph on March 26, 2013 · 0 comments

Downbeat by FMCG giant Nestle India’s decision to increase the rate of royalty to its Geneva-based parent Nestle SA prompted many brokerage houses like Religare and Goldman Sachs to downgrade the company’s stock. Religare slashed the target price assigned to Nestle India from Rs 5,000 to Rs 4,000 a share, while Goldman Sachs brought its target prices for the stock down from Rs 4,041 to Rs 3,952 a share. ICICI Direct not only slashed the price from Rs 5,074 a share to Rs 4,993 a share, but also downgraded the stock from `buy’ to `hold’. read more

[via Stock Watch – Stock Specific News]

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