Nestle shares bounce back after four sessions; up 7.5%

Shares of Nestle India surged 7.5 per cent today, making a comeback after falling in the last four trading sessions amid trouble for the company over the ongoing Maggi noodles controversy.
Nestle India's scrip staged a smart recovery in the day's trade and soared 7.47 per cent to close at Rs 5,953.80 on the BSE. During the day, it jumped 9.75 per cent to Rs 6,080.
At the NSE, it rallied 7 per cent to settle at Rs 5,964.35.
Following the uptick in the stock, the company's market value rose by Rs 3,991.61 crore to Rs 57,403.99 crore.
In the past four trading sessions, the stock had lost 18.62 per cent.

Last week, FSSAI had banned nine variants of Maggi terming them "unsafe and hazardous" for human consumption after finding high levels of lead and presence of taste enhancer monosodium glutamate (MSG). Nestle India also announced withdrawal of the product from the market.