Add Nestle India, target price Rs 2,600: HDFC Securities

HDFC Securities has given an add call for Nestle India with a target price of Rs 2,600. The brokerage expects medium-term double-digit revenue growth due to expansion in rural distribution, out-of-home channels, and significant capacity investments. Nestle India has reported a net profit of Rs 986.36 crore for the latest quarter.