Nestle's Maggi 'shock therapy'

The crisis galvanised the multinational to accelerate the pace of new product launches to regain leadership in its core markets

Sometime in the late afternoon of May 17, Nestle India's stock was trading at Rs 9,865 a piece at the Bombay Stock Exchange (BSE). The price was nearly the double the low point it touched since a crisis that seriously threatened the company in 2015. That was when a panicky government, spooked by allegations of contaminants in Maggi instant noodles, imposed a country-wide ban on Nestle's crown jewel.

   

Last fortnight's stock market performance — the highest price since Nestle listed on the Indian bourses in 1996 — saw the company briefly enter the league of top 30 most valued listed