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Shares of Nestle India moved higher by 3% to Rs 6,274 on the NSE after the company announced that the Bombay High Court allowed Maggi noodles to be exported.
“At the hearing today, the Hon’ble Bombay High Court allowed Nestle India to continue the export of Maggi noodles,” Nestle India said in a statement.
The Court has fixed the matter for further hearing on 14th July, the company added.
The company said that as the matter is sub-judice, it could not make any further comments on the case at this stage.
The stock hit a high of Rs 6,306, bouncing back nearly 5% from intra-day lows of Rs 6,022 touched on the NSE in early morning trades. A combined around 175,000 shares changed hands on the counter till 1342 hours on the NSE and BSE.
“At the hearing today, the Hon’ble Bombay High Court allowed Nestle India to continue the export of Maggi noodles,” Nestle India said in a statement.
The Court has fixed the matter for further hearing on 14th July, the company added.
The company said that as the matter is sub-judice, it could not make any further comments on the case at this stage.
The stock hit a high of Rs 6,306, bouncing back nearly 5% from intra-day lows of Rs 6,022 touched on the NSE in early morning trades. A combined around 175,000 shares changed hands on the counter till 1342 hours on the NSE and BSE.
