Nestle gains as Bombay HC sets aside ban on Maggi noodles

The Bombay HC has directed Nestle to send the samples of Maggi noodles to 3 accredited labs for testing

Shares of Nestle India were up nearly 4% after the Bombay HC has set aside the 5th June ban and recall order on Maggi noodles by food regulator Food Safety and Standards Authority of India.

Meanwhile, the court has directed Nestle to send the preserved samples of Maggi noodles to three accredited laboratories at Hyderabad, Mohali and Jaipur for further testing to determine the content of lead in it.

Read more from our special coverage on "NESTLE MAGGI CONTROVERSY"

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The above process is to be completed in six weeks after which the court will decide whether Nestle India can resume manufacture and sale of Maggi noodles if found below the permissible limits.

The stock opened at Rs 6,300 and touched a high of Rs 6,545. At 14:40PM, over 534,000 shares were traded on both the stock exchanges.