Nestle Shares Down 5% As Selling Continues

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, June 8, 2015, 11:43 [IST]

After a brief respite on Friday, Nestle shares were down 5 per cent once again in trade as selling in the stock continued.

The stock was last trading at Rs 5677, down 5.3 per cent over Monday's close. Over the weekend a few more states banned the Magi range of noodles, whereas a few countries were planning to take action. Bahrain has now banned Maggi noodles from India, while Canada was considering an investigation into imports.

"The Health Ministry has now ordered heightened vigilance at the country's ports to ensure that no more of the Indian-manufactured noodles enter Bahrain," Maryam Al Jalahma, primary care and public health assistant under-secretary was quoted as saying by Gulf Daily News reported.

There were also reports that the government may sue Nestle for damages.

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