Date:07/12/2006 URL: http://www.thehindubusinessline.com/2006/12/07/stories/2006120703701500.htm

Back `Buy' reports buoy Nestle

In an otherwise weak market, the stock of Nestle Ltd ended the day 1.05 per cent higher at Rs 1136.75 on the BSE on Wednesday.

Marketmen attribute the interest in part to a number of brokerages coming out with `buy' report on the stock. While not denying that long-term growth is promising, analysts believe input cost pressures are going to remain. They maintain that the company (which had recently hiked prices) would need further price hikes to offset the growth in raw material prices.

The stock has seen a 5.2-per cent gain weekly and 8.37 per cent month-on-month.

Deeptha Rajkumar