Nestlé India shares crash over 8% as as commodity costs loom

Nestlé India’s September-quarter profit rose 36.3% year-on-year, but its shares fell as much as 8.3% on Thursday after the company flagged persistent food inflation and volatile commodity costs.The maker of Maggi noodles and KitKat chocolates reported broad-based growth across product categories, but investor sentiment was dampened after it said, “rising inflation, particularly food inflation, is a reality”.The shares recovered marginally later in the day. At 1.38 pm, they were down 5.4% from the previous close at ₹1,308.60 apiece on the…