FMCG stock with interim dividend of Rs 140 in focus on November 1

Shares of food and beverages major Nestle India Ltd will turn ex-dividend on November 1. The Indian subsidiary of the world's largest food and beverage company has announced an interim dividend of Rs 140 per share. This is the third time Nestle India has declared dividend and second time interim dividend this year. Earlier, the stock traded ex dividend for a final dividend of Rs 75 per share on April 21, 2023. On the same trading day, the stock traded ex-dividend for an interim dividend of Rs 27 per share.

On October 19, Nestle India announced an interim dividend of Rs 140 during the Q3 earnings of the FMCG firm. The dividend amounting to Rs 1,349.82 crore, will be paid on and from November 16. In the current session, the stock ended 0.58% higher at Rs 24,309.75 on BSE. Market capitalisation of Nestle India climbed to Rs 2.34 lakh crore. Total 1521 shares changed hands amounting to a turnover of Rs 3.68 crore.

The stock hit a 52-week low of Rs 17,888 on March 15, 2023 and a 52 week high of Rs 24,735.50 on October 20, 2022.

Nestle India shares have a beta of 0.5, indicating very low volatility in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 62.6, signaling it's trading neither in the overbought or oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The stock has gained 24.26 percent in 2023 and risen 19% in a year.

Nestle India also announced sub-division or split of shares of face value of Rs 10 each fully paid-up into 10 equity shares of face value of Re 1. The ratio of the stock split will be 1:10.

The company logged a 37.28 per cent year-on-year (YoY) rise in profit after tax to Rs 908.08 crore in Q3 compared with Rs 661.46 crore in the corresponding quarter last year.

Revenue from operations rose 9.45 per cent YoY at Rs 5,036.82 crore in Q3 against Rs 4,601.84 crore in the corresponding quarter of last year. Nestle India said domestic sales for the quarter increased 10.3 per cent and was broad based, with prudent pricing supported by mix and volume.

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