1. Nestle India to start Maggi sale from this month, shares gain

Nestle India to start Maggi sale from this month, shares gain

Nestle India shares gained as much as 4 per cent on Wednesday after the company informed BSE that it is planning to commence sale of Maggi Noodles from this month

By: | New Delhi | Updated: November 4, 2015 4:29 PM
Nestle India shares, maggi

Nestle India shares gained as much as 4 per cent on Wednesday after the company informed BSE that it is planning to commence sale of Maggi Noodles from this month (Photo: Reuters)

Nestle India shares gained as much as 4 per cent on Wednesday after the company informed BSE that it is planning to commence sale of Maggi Noodles from this month as 100 per cent of the samples of Maggi Noodles sent from newly manufactured stocks have been cleared by all three accredited laboratories mandated by the Bombay High Court.

At 1.57 pm, shares of Nestle India were trading 2.13 per cent up at Rs 6,366.95 apiece. The scrip opened at Rs 6256.85 and had touched a high and low of Rs 6479 and Rs 6220.80, respectively, in trade so far.

Later, the share price of Nestle India closed 0.21 per cent up at Rs 6,247.15.

In a release, Nestle India said, “All the samples of Maggi Noodles Masala have been cleared with lead much below permissible limits. We will make our best endeavor to commence the sale of Maggi Noodles Masala with this month.”

Nestle India has conducted over 3500 tests representing over 200 million packs in both national as well as international accredited laboratories for testing and all reports are clear. In addition to these, various countries including USA, UK, Singapore, Australia and others have found Maggi noodles exported from India safe for consumption.

In the past one year, the share price of Nestle India slid 1.63 per cent to Rs 6234.35 on November 3.

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