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Nestle in the sugar controversy with the Indian food regulator.
It's important for companies to prioritize transparency and accountability in their operations to ensure the safety and trust of their customers.
The sugar content controversy surrounding Nestle's Cerelac products and the inquiry initiated by the FSSAI. It's good to know that the regulatory body is committed to investigating the issue thoroughly and will take stringent action against the brand if found at fault. We hope that the investigation is conducted efficiently and that appropriate measures are taken to ensure the safety and well-being of consumers.
It's understandable that stakeholders are keeping a close eye on the inquiry as it progresses. They must be eagerly waiting for the investigation's outcome and any potential consequences for Nestle. It's essential to keep an eye on such developments, especially for a company as big as Nestle, with a significant impact on various industries.
Nestle's controversial practice of adding sugar to infant milk sold in certain countries, such as India, but not in their primary markets like Europe or the UK. Apparently, an investigative organization called "Public Eye" and the International Baby Food Action Network sent samples of Nestle's baby food products from Asia, Africa, and Latin America to a lab in Belgium for analysis, which is how this came to light. It's interesting to note that in India, where Nestle reportedly made over $250 million in sales in 2022, every Cerelac baby cereal variant contains sugar, averaging nearly 3 grams per portion. Meanwhile, in Germany, France, and the UK, Cerelac wheat-based cereals tailored for six-month-old infants sold by Nestle are sugar-free. However, in Ethiopia, the same product contains more than 5 grams of sugar per serving, and in Thailand, it contains 6 grams.
Nestle and their infant milk products. It's concerning to hear that they are adding sugar to their products in less affluent nations but not in their primary markets. I'm glad that investigative organizations like Public Eye and IBFAN are bringing attention to these issues and holding companies accountable for their actions. It's important for companies to prioritize the health and well-being of their consumers, regardless of their location or income level.
It looks like Nestle India's stock price has fallen below its 100-day Simple Moving Average, which is currently at Rs 2526.2 as of 9:30 am on Thursday. The percentage change for today is -0.78%, and the 100-day SMA stands at Rs 2532.78. This could potentially signify a shift in the trend of the stock.
The sugar content controversy surrounding Nestle's Cerelac products and the inquiry initiated by the FSSAI. It's good to know that the regulatory body is committed to investigating the issue thoroughly and will take stringent action against the brand if found at fault. We hope that the investigation is conducted efficiently and that appropriate measures are taken to ensure the safety and well-being of consumers.
It's understandable that stakeholders are keeping a close eye on the inquiry as it progresses. They must be eagerly waiting for the investigation's outcome and any potential consequences for Nestle. It's essential to keep an eye on such developments, especially for a company as big as Nestle, with a significant impact on various industries.
Nestle's controversial practice of adding sugar to infant milk sold in certain countries, such as India, but not in their primary markets like Europe or the UK. Apparently, an investigative organization called "Public Eye" and the International Baby Food Action Network sent samples of Nestle's baby food products from Asia, Africa, and Latin America to a lab in Belgium for analysis, which is how this came to light. It's interesting to note that in India, where Nestle reportedly made over $250 million in sales in 2022, every Cerelac baby cereal variant contains sugar, averaging nearly 3 grams per portion. Meanwhile, in Germany, France, and the UK, Cerelac wheat-based cereals tailored for six-month-old infants sold by Nestle are sugar-free. However, in Ethiopia, the same product contains more than 5 grams of sugar per serving, and in Thailand, it contains 6 grams.
Nestle and their infant milk products. It's concerning to hear that they are adding sugar to their products in less affluent nations but not in their primary markets. I'm glad that investigative organizations like Public Eye and IBFAN are bringing attention to these issues and holding companies accountable for their actions. It's important for companies to prioritize the health and well-being of their consumers, regardless of their location or income level.
It looks like Nestle India's stock price has fallen below its 100-day Simple Moving Average, which is currently at Rs 2526.2 as of 9:30 am on Thursday. The percentage change for today is -0.78%, and the 100-day SMA stands at Rs 2532.78. This could potentially signify a shift in the trend of the stock.
Indian stock market see further sell-off amid delay in US Fed rate cuts
US Federal Reserve Chair Jerome Powell recently commented that there hasn't been much progress in achieving their inflation goal this year. He also suggested that it's likely that they will continue with a tight policy until inflation moves closer to 2% on a consistent basis.
It's interesting to note that Powell's stance has changed after a recent trend of key inflation measures exceeding analyst predictions for three consecutive months.
It seems that the Fed may keep the interest rates unchanged if the price pressures persist, according to the recent remarks of Fed Chair Jerome Powell. He suggested that despite the decline in inflation observed last year, there has been no further progress in recent times. Powell mentioned that the recent data has not given them greater confidence, and it may take longer than expected to achieve it. He made these comments during a panel discussion with Bank of Canada Governor Tiff Macklem at the Wilson Center in Washington, as reported by Bloomberg News.
US retail inflation print for March came in higher than expected, at 3.5% on an annual basis, as opposed to the anticipated 3.4%. This information could have an impact on the financial markets and the economy as a whole. It will be interesting to see how this situation develops moving forward.
U.S. retail sales saw a significant jump of 0.7% month-over-month in March 2024, surpassing the anticipated 0.3%. This indicates that consumers are spending at a faster pace despite the high borrowing costs, which is a positive sign for the economy. However, the U.S. central bank has raised its policy rate by 525 basis points since March 2022, which could have an impact on the market. Market experts suggest that Powell's comments could lead to additional selling pressure in equities, especially in emerging markets like India. The delay in rate cuts has created uncertainty for investors, and the recent US March inflation data has only added to the unease, leading to a sharp sell-off in Indian equities.
It looks like there has been a sharp sell-off in the Indian stock market due to various factors such as delayed rate cuts, tensions in the Middle East, surging bond yields in the US, and selling pressure from foreign institutional investors. As a result, both benchmark indices - Nifty 50 and Sensex - have seen declines in the last few sessions, with IT stocks being among the hardest hit. The declines for IT stocks have been ranging from 2% to 6%.
Wow, that's quite a remarkable increase in share price!
It seems like the domestic benchmark indices had a good day today, with the BSE Sensex Index showing a rise of 0.62 per cent at a level of 72,400. According to reports, around 2,569 shares on BSE advanced, while 1,111 saw a decline, and 131 remained unchanged.
Top Gainers on BSE, shares of Nandan Denims Ltd, surged 11.34 per cent to Rs 48.50 per share from its previous closing of Rs 43.56. The stock also made a fresh 52-week high of Rs 48.50 while its 52-week low is Rs 17.26. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.
Nandan Denim Ltd (NDL) has quite an impressive history. From its humble beginnings as a textile trader, it has now become India's largest and the world's fourth-biggest denim fabric manufacturer. With a massive production capacity, NDL manufactures a diverse variety of fabrics including over 2,000 denim products annually, shirting with diverse options, and yarn including eco-friendly organic cotton. NDL is known for its commitment to innovation and improvement, and has in-house research and development to constantly improve its textile offerings. It is no wonder that they supply to over 27 countries and major Indian retailers.
According to the latest Quarterly Results, the company's net sales have significantly increased by 76% and the net profit has increased by 154% in Q3FY24 compared to the same period last year. It's great to see the company performing well in the first 3 quarters of FY24, with net sales reaching Rs 1,430.97 crore, which is much higher compared to the entire FY23's net sales of Rs 2,026.77 crore. Similarly, the net profit for the first 3 quarters of FY24 is significantly higher at Rs 17.87 crore compared to Rs 1 crore for the entire FY23.
Nandan Denims has a market cap of Rs 676 crore, with the majority of shares owned by the company's promoter (64.74 per cent), while the rest are held by FIIs, DIIs, and the general public. The stock has given investors a multibagger return of 181 per cent, rising from Rs 17.26 to Rs 48.50 per share in just 256 days. Given this performance, it might be worth keeping an eye on this textile stock that seems to be flying under the radar.
Please note that the information provided in the article is intended solely for informative purposes and should not be considered as investment advice. It is always recommended to seek professional financial advice before making any investment decisions.
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