FMCG major Nestle India’s market valuation has surged past Rs 1 lakh crore mark helped by a rally in its share price. The company’s market valuation stood at Rs 1,01,541.66 crore at close of trade on BSE today. Shares of the company gained 3.14 per cent to end at Rs 10,531.65 on BSE.
During the day, it surged 3.55 per cent to Rs 10,574 — its 52-week high. At NSE, shares of the company went up by 3 per cent to close at Rs 10,511.75. Led by the gain in the stock, the company’s market valuation rose by Rs 3,096.66 crore to Rs 1,01,541.66 crore on BSE.
Nestle has also become the third FMCG company after Hindustan Unilever and ITC to command a market valuation of more than Rs 1 lakh crore. HUL’s m-cap stood at Rs 3,64,470.22 crore and that of ITC was Rs 3,29,355.98 crore.
The stock of Nestle has gained over 34 per cent so far this year.