Shares of Nestle India surged over 4% on Thursday after the company announced its plans to invest Rs 2,600 crore over the next three to four years to expand its manufacturing capacity in India. The investment will focus on setting up new factories and upgrading existing ones to cater to the growing demand for its products in the country.
Nestle India, a subsidiary of the Swiss multinational Nestle, has been operating in India for over a century. The company is known for its wide range of popular food and beverage brands, including Maggi noodles, Nescafe coffee, KitKat chocolates, and Cerelac baby food. Nestle India has a strong presence in the Indian market and has been consistently expanding its product portfolio to meet the changing consumer preferences.
Meanwhile, ICICI Prudential, one of India’s leading insurance companies, saw its stock price rise by 1.5% on Thursday. The company recently reported a 23% increase in its net profit for the fourth quarter of the financial year 2020-21, driven by strong growth in premium income and improved investment performance. ICICI Prudential has been focusing on expanding its customer base and introducing innovative insurance products to strengthen its market position.
Tata Technologies, an engineering and technology solutions company, also witnessed a surge in its stock price on Thursday. The company announced that it has signed a definitive agreement to acquire US-based engineering services firm Cambric Corporation for an undisclosed amount. This acquisition will help Tata Technologies strengthen its presence in key markets and enhance its capabilities in providing engineering solutions to its global clients.
Overall, these developments indicate positive growth prospects for the companies and have attracted investor interest in their stocks. Market analysts recommend keeping an eye on these stocks as they continue to track their performance in the coming days.
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Tags: Nestle India, ICICI Prudential, Tata Technologies, Stock Market, Investing
