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Others Nestle India stock up 6% on FSSAI approved lab finding Maggi safe

Nestle India stock up 6% on FSSAI approved lab finding Maggi safe

Author | exchange4media News Service | Wednesday, Aug 05,2015 1:07 PM

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Nestle India stock up 6% on FSSAI approved lab finding Maggi safe

Nestle India stock is up by more than 6 per cent today at Rs 6,736 on the back of positive reports coming from the FSSAI backed labs ‘Mysuru's Central Food Technological Research Institute’ (CFTRI) finding that Maggi noodles are completely safe  and it is in compliance with the country’s food safety norms.

In June, according to earlier reports, the Goa FDA had sent the Maggi noodles samples to CFTRI for retesting after FSSAI expressed apprehensions on state FDA's initial report, which had found lead within permissible limits.

The company recently reported a loss of Rs 64.4 crore, their first quarterly loss in three decades, on the back of more than Rs 320 crore Maggi being recalled from the market after being termed as ‘unsafe’ by the Food Safety and Standards Authority of India (FSSAI). The company had also given Rs 20 crore to Ambuja Cements to destroy all the packets of Maggi.

On Saturday, the newly appointed MD, Suresh Narayananexpressed his desire of bringing Maggi back to the market as quickly as possible and also termed it as his first and primary mandate after joining the new position.

Tags: Nestle | Maggi

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