Nestle India surges on safety nod from government lab
The stock has surged by 10% to Rs 7,000 on the BSE in early-morning trades.
 "Nestle India surges on safety nod from government lab")
Shares of Nestle India have surged by 10% to Rs 7,000 on the BSE in early-morning trades after a Business Standard report suggested that a FSSAI-approved laboratory of Central Food Technological Research Institutue (CFTRI) has found Maggi noodles to be in compliance with the country's food safety standards.
Hit by ban on its Maggi instant noodles, Nestle India had reported a standalone loss of Rs 64.40 crore for the quarter ended June 30, 2015 -- its first quarterly loss in over three decades. The company had posted a net profit of Rs 287.86 crore during the April-June quarter, FY2014-15.
At 09:21 AM, the stock was up 7.3% at Rs 6,819 on the BSE. A combined 71,662 shares have changed hands on the counter on the BSE and NSE so far.
Hit by ban on its Maggi instant noodles, Nestle India had reported a standalone loss of Rs 64.40 crore for the quarter ended June 30, 2015 -- its first quarterly loss in over three decades. The company had posted a net profit of Rs 287.86 crore during the April-June quarter, FY2014-15.
At 09:21 AM, the stock was up 7.3% at Rs 6,819 on the BSE. A combined 71,662 shares have changed hands on the counter on the BSE and NSE so far.