Nestle India rose 1.37% to Rs 6,565 at 13:35 IST on BSE after reports Karnataka and Gujarat lifted ban on manufacturing and sale of company's popular instant food brand Maggi noodles.
Meanwhile, the BSE Sensex was up 48.14 points, or 0.18%, to 27,419.73.
On BSE, so far 9,483 shares were traded in the counter, compared with an average volume of 13,072 shares in the past one quarter.
The stock hit a high of Rs 6,648 and a low of Rs 6,553 so far during the day. The stock hit a record high of Rs 7,499.95 on 10 March 2015. The stock hit a 52-week low of Rs 5,499 on 8 June 2015.
The stock had underperformed the market over the past one month till 19 October 2015, rising 4.04% compared with Sensex's 4.37% rise. The scrip had, however, outperformed the market in past one quarter, gaining 6.58% as against Sensex's 3.86% fall.
The large-cap company has an equity capital of Rs 96.42 crore. Face value per share is Rs 10.
More From This Section
According to reports, Nestle India is planning to relaunch Maggi noodles on this Diwali.
Nestle India had said on 16 October 2015 that all the 90 samples, covering 6 variants, tested by three laboratories mandated by the Bombay High Court to test Maggi Noodles samples are clear with lead content much below the permissible limits. Nestle India has conducted over 3500 tests representing over 200 million packs in both national as well as international accredited laboratories and all reports are clear. In addition to these, various countries including USA, UK, Singapore, Australia and others have found Maggi Noodles manufactured in India safe for consumption, the company had said.
Nestle India reported net loss of Rs 64.40 crore in Q2 June 2015 compared with net profit of Rs 287.86 crore in Q2 June 2014. Net sales dropped 20.1% to Rs 1933.84 crore in Q2 June 2015 over Q2 June 2014.
Nestle India is a subsidiary of Nestle S.A. of Switzerland. Nestle is the world's leading nutrition, health and wellness company. Nestle S.A. held 34.28% stake in Nestle India as per the shareholding pattern as at 30 September 2015.
Powered by Capital Market - Live News