Nestle India Share Price Hits 52-Week Low Amid CERELAC’s 50th-Year Milestone

On October 24, 2024, Nestle India’s share price reached a 52-week low of ₹2,271.00, despite opening higher at ₹2,339.00, an increase from its previous close of ₹2,327.15. By 10:39 AM, the stock was trading at ₹2,274.00, reflecting a rise of 2.28%.

In a significant milestone, Nestle India recently celebrated the 50th anniversary of its flagship product, CERELAC, a cereal-based complementary food. The first batch of CERELAC was produced in Nestlé’s renowned factory in Moga, Punjab, on September 15, 1975. This celebration highlights the brand’s longstanding presence in the Indian market and its commitment to innovation. Over the past 5 years, Nestle has successfully reduced added sugar in CERELAC by up to 30%, aligning with health-conscious consumer trends.

As part of its innovation journey, Nestle has introduced new CERELAC variants with no refined sugar. This initiative, which started 3 years ago, has culminated in the launch of 14 out of 21 variants in the expanded CERELAC range that will contain no refined sugar. Seven of these variants are set to be available by the end of November 2024, with the remaining variants launching in the coming weeks.

In addition to these product milestone details, Nestle India also released its financial results for the second quarter of the fiscal year 2024-25. In the standalone results, the company reported total sales of ₹5,074.8 crore. Profit from operations stood at 21.0% of total sales, contributing to a net profit of ₹986.4 crore for the quarter.

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