Nestle Shares Jump As Company Set To Re-Launch Maggi Noodles

Shares in Nestle continued to rally for the third straight trading session, thus, jumping nearly 8 per cent in three trading sessions. The stock was up another 2 per cent today as the company is to re-launch Maggi Noodles, months after it was taken-off the shelf across the country.

The shares were last trading at Rs 6524 on the Bombay Stock Exchange.

It maybe recalled that many state governments had banned Maggi Noddles citing high level of MSD content. The company's own research found that the product was safe and fit for consumption.

Regulators in certain countries like Singapore, Canada, Australia, UK and New Zealand also found Maggi that was made in India, safe for consumption.

In August, the Bombay High Court allowed Maggi to be produced and sold in the country, though new tests are required to prove that the popular snack does not contain excess lead.

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Story first published: Tuesday, October 20, 2015, 11:09 [IST]

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