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Nestle India Shares Higher as UK Regulator Says it's Safe
Shares of the Nestle India surged on Thursday after the UK food regulator said that levels of lead in the product is well within the permissible levels and would not be a concern to consumers.
On June 30, 2015, the Hon'ble Bombay High Court allowed Nestlé India to continue the export of MAGGI Noodles. However, the ban in India continues.
Nestle informed the Food Standards Agency (FSA) that the only variety of Maggi Noodles they import into the UK from India is the ‘masala flavour'.
Following an incident in India, where a sample of Maggi Noodles was reported to contain high levels of lead, the Food Standards Agency made the decision to test a selection of Maggi Noodles as a precaution, the FSA said in the statement.
While, there are reports that the company is planning for a relaunch for the Maggi instant noodles.
The shares of the company was seen trading at Rs 6289, higher by 2.43 per cent on BSE at 12.40 PM IST. It touched an intraday high of Rs 6375 during the trade.
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