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BW Businessworld

Nestle India Will Recover: Nomura

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Shares in Nestle India fell 2 per cent, a day after the company says net profit in the Jan-March quarter rose 7.8 per cent from a year ago, disappointing investors.

Nomura says Nestle's profits missed estimates, but adds input costs have started to ease and will help lift margins over then next couple of quarters.

Nomura adds Nestle remains one of its key long-term picks in the sector, but maintains its "Neutral" rating, with target price at 4,345 rupees vs Nestle's 4,936 rupees closing price on Wednesday.