Nestle spikes up
By
Research Desk
about 10 years ago
Nestle is in the limelight today morning; the stock currently up over Rs.77 or 1.5% at Rs.5365, with an intra day high at Rs.5585. Volumes are up almost two times.
The stock is up on unconfirmed news that the Swiss parent might invest around $1 billion to hike its stake in the Indian company. The parent holds 62% stake and might be looking at the option of hiking it up to 75%. The market is enthused, akin to the GSK deal and if confirmed will run ahead, looking forward to an open offer.