Jefferies recommended a ‘Hold’ on Nestle India for a price target of Rs 19,900. The company witnessed a volume miss offset by margin expansion, the brokerage noted. Revenue growth was broad-based across cities and towns and also product segments. Like the packaged food story, but valuations are expensive, it said.
Asia stocks hold steady as more rate cuts loom
Asian stocks remained steady on Monday as investors awaited central bank meetings expected to result in two more rate cuts and key U.S. inflation data.