Shares of Nestle India rose sharply by over 10 per cent today as the FSSAI-approved laboratory of the Central Food Technological Research Institute (CFTRI) has found Maggi noodles in compliance with the country’s food safety standards.
As a result, the shares jumped 10.17 per cent to Rs 7,000 on the BSE. On the NSE, the stock rose 10.19 per cent to Rs 6,998.
CFTRI had tested five samples sent by the Goa Food and Drug Administration (FDA) when Maggi was banned in June in the wake of findings in Uttar Pradesh and other states that the instant noodles brand had lead levels beyond permissible limits.
"The CFTRI finding shows that samples are in compliance with the food safety standards as per the Food Safety and Standards Rules, 2011,” Goa FDA Director Salim A Veljee told PTI.
In June this year, Nestle had to take Maggi off the shelves after a few states decided to ban the noodles. FSSAI had also banned Maggi instant noodles terming them “unsafe and hazardous” for human consumption