Nestle India shares surge on Bombay HC's order against Maggi ban

Nestle India shares jumped 3.03 per cent gaining 187.35 points in the noon trade on Bombay High Court's order against the ban on Maggi noodles.

The investors cheered the court's order revoking the Food Safety and Standards Authority of India's (FSSAI) order banning Nestle India's popular snack. The company's shares surged to Rs 6,372.05 apiece at the Bombay Stock Exchange in the noon trade at 12.08 p.m.

Nestle India's shares earlier reached a high of Rs 6545, surging 5.8 per cent from Wednesday's close of Rs 6184.70
immediately after the high court's order.

Its shares closed 2.78 per cent up at Rs 6356.70 apiece on Thursday.

The court ruling in favour of Nestle India said the company will have to test the Maggi samples in three laboratories in Jaipur, Hyderabad and Mohali before manufacturing for sale. The Court ordered Nestle to send five samples of each batch to these laboratories.

The testing will have to be completed within six weeks, the court added.