Nestle India stock rises over 5% as Maggi clears tests by CFTRI

Nestle jumped over 5% after the FMCG major said its popular product Maggi cleared tests conducted by Central Food Technological Research Institute (CFTRI) under the directive of Supreme Court, reiterating that the instant noodles brand is safe for consumption.

The stock after making a positive opening jumped further by 5.23% to Rs 6,180 on BSE. At NSE, shares of the company climbed 5.35% to Rs 6,185.05.

At 1204 hours, the stock of Nestle India was trading up 4.01% or Rs 235.25 at Rs 6,106.00 per scrip on the NSE. 

"CFTRI has submitted analysis reports on Maggi noodles to the Supreme Court. We have been provided with a copy of the reports. We are happy that all 29 samples tested by CFTRI are clear," Nestle India said in a statement on Monday.

The reports state that lead levels for all samples are within permissible limits, it added.

"All 29 samples of Maggi Noodles,(the initial 13 and subsequent 16 samples), were collected by the relevant authorities following due process and then directly submitted to CFTRI," Nestle India said.

The Supreme Court on December 16 last year, ordered testing of samples of Maggi Noodles in Mysore laboratory after the National Consumer Disputes Redressal Commission (NCDRC) had directed that it be done in Chennai.