Nestle India's Stock Sees Decline, Underperforms Sector and Market
Nestle India, a leading FMCG company in India, has recently seen a decline in its stock price. On October 9th, 2024, the company's stock lost -4.18%, underperforming the sector by -2.1%. The stock closed at Rs 2520.05 on the Bombay Stock Exchange.
According to MarketsMOJO, a leading stock market analysis and recommendation platform, the current stock call for Nestle India is 'Hold'. This recommendation is based on the company's recent performance and market trends.
On the day of the decline, Nestle India's stock touched an intraday low of Rs 2514.65, a decrease of -2.57%. The stock is currently trading lower than its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages.
In comparison to the overall market performance, Nestle India's stock has underperformed. On the same day, the Sensex, India's benchmark index, saw a positive performance of 0.59%, while Nestle India's stock declined by -4.20%. In the past month, Nestle India's stock has also underperformed the Sensex, with a decline of -1.74% compared to the Sensex's positive performance of 0.68%.
Despite the recent decline in stock price, Nestle India remains a largecap company in the FMCG industry. The company has a strong presence in the Indian market and is known for its popular brands such as Maggi, KitKat, and Nescafe. Investors and market experts continue to closely monitor the company's performance and future prospects.
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