Nestle Shares Surge 5% As Maggi Found Safe in Govt Approved Lab

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Shares in Nestle surged as much as 5 per cent after reports that Nestle was found to comply with the country's food safety standard in a test done in a government approved lab.

Nestle Shares Surge 5% As Maggi Found Safe in Govt Approved Lab
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The FSSAI-approved laboratory of Central Food Technological Research Institute (CFTRI) has found Maggi noodles to be in compliance with the country's food safety standards.

"CFTRI finding shows that samples are in compliance with the food safety standards as per the Food Safety and Standards Rules, 2011," Goa FDA director Salim A Veljee told PTI.

Check financials and technical charts of Nestle India

Shares in Nestle have fallen sharply from highs Rs 7500 after reports that the company's Maggi noodle had high lead levels and they were not fit for consumption.

Thereafter Nestle contested the claims and also destroyed Maggi packs. The parent company also appointed a new person at the helm to douse the fire over the Maggi episode.

Read more about: nestle, maggi
Story first published: Wednesday, August 5, 2015, 11:02 [IST]
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