Comments
Stocks of Nestle India today defied the broader market trend and gained nearly 2 per cent in morning trade on the bourses.
The shares opened at ₹6,100.00 and surged 1.76 per cent to a high of ₹6,206.70 on BSE.
On the NSE, similar trend was seen as the stock opened at ₹6,078 and touched an intra-day high of ₹6,208.75, up 1.93 per cent from its previous close.
Nestle India is planning to bring back the popular instant noodles brand Maggi back in the market by end of this year subject to certain clearances.
“We will try and target something that is better than that. My desire is to do it before that but let’s see,” Nestle India Managing Director Suresh Narayanan had told PTI in an interaction yesterday.
He had said, as per court directives, this quarter it would go in for testing of Maggi samples at three independent laboratories in Punjab, Hyderabad, and Jaipur which are accredited with National Accreditation Board for Testing and Calibration Laboratories (NABL).
The surge in the Nestle counter assumes significance as the broader market witnessed bloodbath with the Sensex recording an intra-day fall of 1,153.16 points till noon – making it the biggest crash in about seven years and the fourth biggest ever for the BSE benchmark index.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.