Nestle India soars on getting nod to acquire pet foods business from Purina PetCare India

Nestle India is currently trading at Rs. 19017.85, up by 473.20 points or 2.55% from its previous closing of Rs. 18544.65 on the BSE.

The scrip opened at Rs. 18625.00 and has touched a high and low of Rs. 19330.85 and Rs. 18460.00 respectively. So far 6575 shares were traded on the counter.

Nestle India
Nestle India

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20599.95 on 14-Sep-2021 and a 52 week low of Rs. 16000.00 on 19-May-2022.

Last one week high and low of the scrip stood at Rs. 19087.85 and Rs. 18260.40 respectively. The current market cap of the company is Rs. 183669.05 crore.

The promoters holding in the company stood at 62.76%, while Institutions and Non-Institutions held 20.79% and 16.45% respectively.

Nestle India has received an approval for acquisition of Pet Foods Business (PFB) from Purina PetCare India through business transfer, proposed with effect from October 1, 2022. The Board of Directors at their meeting held on July 28, 2022 approved the same. The business transfer (slump sale) would entail transfer of all assets and liabilities related to PFB including employees of Purina Petcare India.

Nestle India is a subsidiary of Nestle S.A. of Switzerland, a vibrant company that provides consumers in India with products of global standards.

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