Nestle India announced the launch of world's No. 1 cocoa-malt beverage - MILO in India. The product is being manufactured at the company's factory in Singapore and is specifically tailored for the Indian Customer.

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Nestle India announced that the company will commence construction of its 9th factory in India to come up in Gujarat. The stateof the art, environmentally sustainable factory for MAGGI Noodles will involve an initial investment of nearlyRs. 700 crore over the next two years.

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Nestle India has fixed 13 August 2019 as record date for payment of interim dividend of Rs 23 per share and a special dividend of Rs 180 per share. The total dividend of Rs 203 per share will be paid on and from 23 August 2019.

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The result was announced after market hours on Friday, 2 August 2019.

Meanwhile, the S&P BSE Sensex was down by 419.98 points or 1.13% to 36,663.3.

On the BSE, 381 shares were traded in the counter so far compared with average daily volumes of 2,861 shares in the past two weeks. The stock had hit a high of Rs 11,864.95 and a low of Rs 11,545. The stock hit a 52-week high of Rs 12,025.65 on 1 July 2019 and a 52-week low of Rs 9,080.10 on 11 October 2018.

Domestic sales increased by 13.1% in Q2 June 2019 largely driven by volume & mix and positively influenced by sales to CSD and sale of surplus fat. Export sales dropped by 13.9% in Q2 June 2019 primarily due to lower coffee exports to Turkey.

Suresh Narayanan, Chairman and Managing Director, Nestle India said environment continues to be challenging with headwinds in commodity prices and softer demand conditions.

The company announced that it will start construction of its ninth factory in India. The factory for 'Maggi Noodles' will involve an initial investment of nearly Rs 700 crore over the next two years is located in Gujarat.

The board has approved an interim dividend of Rs 23 per equity share and a special interim dividend of Rs 180 per share for the current financial year.

Nestle India is one the biggest players in FMCG segment and has a presence in milk & nutrition, beverages, prepared dishes & cooking aids and chocolate & confectionery segments. The company manufactures products under brand names, such as Nescafe, Maggi, Milkybar, Milo, Kit Kat, Bar-One, Milkmaid and Nestea.

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