Shares of Nestle India have extended losses and have slumped over 4% to Rs 5,921 on the Bombay Stock Exchange (BSE) after the Delhi government prohibited the sale of Maggi Noodles, a Nestle India product, for 15 days claiming high levels of lead is obtained in preliminary testing.
Meanwhile, based on a consumer complaint in coimbatore, a sample of the firm's baby milk powder, NAN Pro-3 has been tested positive for live larvae. According to the results, the milk powder has been stated unsafe for consumption by the Tamil Nadu Food Safety Wing.
Earlier, The UP FDA found lead content in Maggi to be seven times more than the permissible level in a routine test of two dozen noodle packets and ordered a recall of a 2 lakh-pack batch of noodles at the end of April.
The stock opened at Rs 5,900, touched a low of Rs 5,800 on the BSE. A total of 35,037 shares changed hands on the BSE so far.
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