Nestle India slips over 6% after Delhi govt, Indian Army ban Maggi

NEW DELHI: Nestle India Ltd slipped as much as 6.3 per cent in trade on Thursday, after the Delhi government imposed a 15-day ban on Nestle's Maggi noodles even as other state governments await test results.

The stock ended the day at Rs 6010.80, down 2.91%.

Shares of Nestle India plunged 9 per cent on the Bombay Stock Exchange on Wednesday, its biggest drop in a day in nine years. The stock has plunged over 14 per cent in the month of June, and nearly 7 per cent so far in the calendar year 2015.

Nestle India hit a low of Rs 5800.10 and a high of Rs 5960 in trade today on BSE.

The Indian Army, meanwhile, advised its soldiers to avoid the stuff if they could. In a separate report, Nestle India has courted fresh trouble after a preliminary test by a Tamil Nadu agency of a sample of their milk powder allegedly found live larvae in it.

The Drug Administration Department (food safety wing) tested the NAN PRO3 milk powder, bought by a cab driver and the initial report by one of its food analysts found live larvae in the sample, PTI reported.