Nestle India scales fresh record high; stock rallies 38% in 4 weeks

Shares of Nestle India surged 3.5 per cent and hit a new high of Rs 17,925 on the BSE on Thursday with its market capitalisation crossing Rs 1.7 trillion-mark on the BSE. The fast moving consumer goods (FMCG) company surpassed its previous high of Rs 17,521 hit on April 8, 2020.

Nestle India, the manufacture of food and beverage products, has seen its market price soaring 38 per cent in the past four weeks after Prime Minister Narendra Modi, on March 24, declared a nationwide lockdown in the wake of the Covid-19 pandemic. In comparison, the S&P BSE Sensex