New Delhi(Sharemasterindia.com): Shares of Nestle India Ltd rose as much as 9.75% to Rs.6,080
a piece on BSE on Tuesday, for the first time since 21 May, following
media reports that Maggi has met safety standards in Singapore.
The Agri Food and Veterinary Authority of Singapore (AVA) on Monday
said Maggi noodles produced in India are safe to eat, as food safety
tests found that it does not pose risks to consumers, according to a
report by The Straits Times, Singapore.
Singapore had put restrictions on import of Maggi noodles
from India last week. Since 21 May, Nestle India’s stock has lost
20.29%, from Rs.6,950.30 to Rs.5,539.80.
Singapore’s AVA had collected samples of Nestle’s Maggi
noodles produced in India for testing after Food Safety and Standards
Authority of India (FSSAI), India’s food safety regulator, on 5 June
asked Nestle India to recall all nine variants of Maggi noodles from the
market, calling them “unsafe and hazardous” for human consumption.
Nestle India said it would withdraw the products, but continued to insist that the products were safe.
Shares of Nestle India closed 7.47% higher at Rs.5,953.80 apiece, while the benchmark Sensex declined 0.16%, or 41.84 points, to 26,481.25
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