ADVERTISEMENT

Maggi Controversy Wipes Out Nearly Rs 10,000 Crore From Nestle's Market Cap in 5 Trading Sessions

Maggi Controversy Wipes Out Nearly Rs 10,000 Crore From Nestle's Market Cap in 5 Trading Sessions
The controversy around Maggi noodles, under scrutiny for high content of lead and mono-sodium glutamate or MSG (a taste enhancer), has led to a sharp correction in Nestle India shares. Four states - Delhi, Gujarat, J&K and Uttarakhand - have banned Maggi for varying periods; many others have announced tests of Maggi noodles. Since May 28, Nestle shares are down nearly 15 per cent from Rs 7,038.65 to Rs 6,010.80. The selloff has wipe...
Register for Free
to continue reading
OUR NEWSLETTERS
By signing up you agree to the Terms & Conditions of NDTV Profit