Nestle rebounds after satisfactory test results on Maggi noodles

The company said results both internal and external show that lead levels are well within the limits specified by food regulations and that MAGGI noodles are safe to eat.

Shares of Nestle India rebounded today to gain 3% at Rs 6,878 on the National Stock Exchange after the company in a release late Monday said that samples tested from almost 1,000 batches at its accredited laboratory and the results both internal and external show that lead levels are well within the limits specified by food regulations and that MAGGI noodles are safe to eat.

"We regularly monitor all our raw materials for lead, including testing by accredited laboratories which have consistently shown levels in MAGGI noodles to be within permissible limits," the release added.

The stock opened at Rs 6,772 and touched a low of Rs 6,755 on the National Stock Exchange. At 11:50AM, over 42,600 shares were traded on both the stock exchanges.