More Maggi variants to be launched by Nestle India

 

Nestle India, which re-launched its most favorite Maggi noodles in the Indian market, is all set to launch other variants of the brand such as oats noodles and cup noodles.

The company re-launched Maggi masala noodles on November 9, five months after it was banned by the FSSAI following a Bombay High Court order.

Last week Supreme Court had ordered re-testing of Maggi noodles by an accredited laboratory at Mysore and not in Chennai as sought by the National Consumer Disputes Redressal Commission while staying the proceedings in connection with the government's Rs 640 crore law suit against the company that is pending with the apex consumer body.

Soon after the re-launch, Maggi geared up its productions at all five plants.

The stock price of Nestle India was quoting at Rs 5729.95, up Rs 50.10, or 0.88 per cent.

The 52-week high of the share was Rs 7499.95 and the 52-week low was Rs 5499.00. The company's trailing 12-month (TTM) EPS was at Rs 73.27 per share as per the quarter ended September 2015.