Nestle India continued its slide for yet another session on Friday. The company stock was trading down 3.28 per cent at Rs 5,813.60 on Friday after the company on Thursday night decided to take Maggi off the shelves following a controversy over its contents.
Nestle’s stock fell by 2.91 per cent on Thursday to settle at Rs 6,010.80 on the BSE. On the NSE, the stock ended with a loss of 2.94 per cent at Rs 6,004.45 on Thursday.
Also read: Nestle India takes Maggi noodles off the shelves, promises to come back soon
Nestle’s Maggi has been in the midst controversy over its contents that has prompted several states to ban the ‘two-minute’ noodles.
Asserting that the product was “completely safe”, the company in a statement late on Thursday night said, “Unfortunately, recent developments and unfounded concerns about the product have led to an environment of confusion for the consumer, to such an extent that we have decided to withdraw the product off the shelves…”
“We promise that the trusted MAGGI Noodles will be back in the market as soon as the current situation is clarified,” it added.
After Delhi, four more states — Gujarat, Tamil Nadu, Jammu and Kashmir and Uttarakhand– on Thursday banned the sale of Maggi noodles after concerns were raised over presence of monosodium glutamate (MSG) and lead beyond permissible levels in the product.
(With PTI inputs)
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