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Shares of Nestle India rose 5% to hit the day’s high of Rs 1,281 on the NSE on Thursday, October 16, after the company announced its Q2FY26 results. Investor sentiment improved as both total and domestic sales registered double-digit growth of 10.9% and 10.8%, respectively, marking a rebound after several quarters of single-digit growth. The company reported a 23.6% year-on-year decline in standalone profit after tax (PAT) to Rs 753.2 crore, even as revenue from operations increased 10.6% YoY to Rs 5,643.61 crore, compared to Rs 5,104 crore in the same quarter last year.On a consolidated basis, PAT fell 17.4% to Rs 743.17 crore from Rs 899.49 crore in Q2 FY25.Total sales reached Rs 5,630.2 crore, reflecting a 10.9% YoY growth, with domestic sales up 10.8%, underscoring steady demand in the home market. The company attributed this growth to strong volumes, with domestic sales of Rs 5,411 crore marking the highest ever in any quarter.The export segment recorded high double-digit growth, supported by strong demand across product groups. MAGGI Noodles and its variants continued to perform well globally. The company expanded its portfolio by extending NESCAFÉ Bulk into the Middle East and launching NESCAFÉ Sunrise in the United Arab Emirates, Saudi Arabia, Singapore, and New Zealand. Additionally, the KITKAT range was introduced in Singapore, and MILKMAID Doypack was launched in Sri Lanka.The FMCG major also noted that the recent amendments to Goods and Services Tax (GST) rates announced by the Government of India are a positive step for consumers, expected to stimulate consumption, enhance affordability, and contribute to the overall growth of the FMCG sector and the economy.“We have been working closely with our partners, distributors, wholesalers, and retailers to pass on the benefits of the revised GST rates across our product groups to our consumers,” the company said in a press release.At around 12:20 pm, shares of the company were trading at Rs 1,254, up 3% from the last close on the NSE. The Nestlé India stock is up 15.5% on a year-to-date basis.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

After an extraordinary rally that saw 16 consecutive sessions of upper circuits, Cian Agro Industries & Infrastructure shares finally hit the brakes on Thursday, slipping 5% to Rs 3,287.15 on the BSE, their lower circuit limit for the day. The stock opened at Rs 3,633.15 before tumbling to the day’s low, halting its relentless upward streak.Despite the pause, the multibagger remains a market marvel, having skyrocketed over 8,450% in just two years, turning early investors into big winners.The previous close stood at Rs 3,460.15. As per BSE data, the stock's 52-week high stands at Rs 3,633.15, hit just a session earlier, while the 52-week low is Rs 209.70.The market capitalisation of the company is Rs 9,199.38 crore (full) and Rs 2,973.65 crore (free float). Total traded quantity, as of 10:45 am, stood at 1.43 lakh shares with a turnover of Rs 50.26 crore.Despite today's correction, the multibagger stock has delivered staggering returns in recent times. According to data, Cian Agro shares have gained 1,467.55%, while its year-to-date (YTD) return stands at 546.25%.Gains over the past 6 months are at 695.73%, and for the past 3 months, the stock has jumped 618.74%.Even on a shorter time frame, the rally was significant, with returns of 148.57% in one month, 47.37% in two weeks, and 15.47% in the last week, before today’s fall halted the run.Cian Agro Industries & Infrastructure, incorporated in 1985, operates in the Agro, Healthcare, and Infrastructure sectors. The group also has business interests in spices, edible oils, personal care, sanitation, and bio-fertilisers.Also read: Tata Motors demerger: Listing date, share price and what's next for 67 lakh shareholdersThe stock remains under ASM (Additional Surveillance Measure) LT: Stage 4, and the scrip’s PE has been consistently above 50 for the past four quarters.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Nestle will axe 16,000 jobs as it tries to raise sales volumes, new CEO Philipp Navratil said on Thursday, as the world's largest packaged food company reported better-than-expected sales growth thanks to pricing-led upticks in coffee and confectionery.Navratil, the former head of Nespresso, replaced Laurent Freixe, who was fired in September as chief executive over an undisclosed relationship with a direct report.Nestle has endured an unprecedented period of managerial turmoil, with Chairman Paul Bulcke stepping down early to make way for former Inditex chief Pablo Isla two weeks later.A 1.5% rise in real internal growth (RIG) - a measure of sales volumes - in the third quarter, well above analysts' expectations of a 0.3% rise, may offer Navratil breathing space as he looks to make his mark following his sudden promotion.As Nestle tries to become more efficient, Navratil said there would be 12,000 white collar job cuts, in addition to a further 4,000 headcount reduction as part of ongoing initiatives in manufacturing and supply chain. Nestle employs around 277,000 people worldwide.The Swiss maker of KitKat chocolate bars, Nespresso coffee and Maggi seasoning has been fighting to reignite stalling sales growth and arrest a steep share price slide as costs have risen and debt levels have climbed amid rising investor pressure.Navratil said driving RIG-led growth was Nestle's top priority and that it would raise its costs savings target to 3 billion Swiss francs ($3.77 billion) from 2.5 billion francs by the end of 2027."We are fostering a culture that embraces a performance mindset, that does not accept losing market share, and where winning is rewarded," Navratil said in a statement. "The world is changing, and Nestlé needs to change faster."