Nestle India adds Rs18.1 billion (US$253.7 million) in MCap, top heavyweight rise in Packaged foods sector
Nestle India Ltd. (NSE:NESTLEIND), India's largest Packaged foods company by market cap, has increased Rs187.75 (1.3%) from its previous trading session to close at Rs14,851.90. Compared with the BSE SENSEX Index which fell 17.1 points (0.04%) in the day, the relative price increase was 1.3%. The rise has been propped up by average volume of 1.1 times the average daily volume of 84,507 shares. It posted the highest rise in MCap with the most influence on the Packaged foods sector. There were 89,173 shares worth Rs1.3 billion (US$18.5 million) traded today. Today the stock traded between its seven-day high of Rs14,900.0 and three-day low of Rs14,600.10.
Technical indicators complementing today's significant uptrend:
+ The positive 115.21 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The stock has outperformed 91% of the Indian market over the past 6 months.
+ In the last one month the stock has hit a new 52-week high six times and in the last three months seven times, pointing to a significant uptrend.