Nestle India News

However, the appeal was rejected, confirming the demand for customs duty, interest, and an equal penalty amount.

Sensex Today: IndusInd Bank, NTPC, Mahindra & Mahindra, JSW Steel, Tata Steel and L&T were the top losers. 

Nestle India shares soared following the news of the interim dividend.

Swiss investigative organisation Public Eye has found in its report that Nestle adds upto 3 grams of sugar in its baby food per serving in India, however the same is sugar-free in countries like US, United Kingdom, Germany Switzerland.

Under the leadership of Suresh Narayanan, the Chairman and Managing Director of Nestle India, the company came out its worst crisis in the country and regained the former dominant position in the Noodles segment. 

It has fixed April 21, 2023 as the record date to determine the eligibility of shareholders for the payment of said interim dividend.

Nestle India announces Q3 result for this FY. It has increased by 8.3% to Rs 668 crore in September. Nestle owns famous noodles brand Maggi.

Nestle had posted a profit of Rs 483.31 crore in the same period a year ago. The company's revenue from operations was up 8.93 per cent to Rs 3,739.32 crore during the period under review. Nestle India's domestic sales were up 9.17 per cent to Rs 3,559.78 crore.

M&M was the top gainer in the Sensex pack, zooming over 5 per cent. M&M was followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel. Maruti, HUL, Nestle India, Axis Bank and SBI were among the laggards.

Nestle is tweaking its product packaging to leverage the power of iconic brands like Maggi, Kitkat, Nescafe and Everyday to deliver the message. The company will have a campaign in print and digital media informing its consumers about the packaging changes, generating awareness. The company has already implemented the changes at its factory lines and the products are expected to hit the market in coming weeks.

Nestle India, at present, has eight factories across the country.

However, volume-wise Maggi is still away from the pre-crisis period, when Nestle used to dominate the market with 75 percent market share.

District administration of Shahjahanpur, UP, had slapped a fine on Nestle India and its distributors last week after Maggi had allegedly failed to pass the lab test and found ash content above the permissible limits for human consumption.

The district administration of Shahjahanpur, UP, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that "it's a case of application of incorrect standards".  

Nestle India's popular Maggi has failed lab test in UP Shahjahanpur district administration has slapped a fine on Nestle India Lab tests found ash content above the permissible limits of human consumption.

As many as 178 items of daily use were shifted from the top tax bracket of 28 percent to 18 percent while a uniform 5 percent tax was prescribed for all restaurants, both air- conditioned and non-AC.

The company, which follows January-December period as financial year, had posted a net profit of Rs 287.32 crore for the March quarter of last fiscal.

FMCG major Nestle India on Wednesday reported a decline of 8.66 percent in its standalone net profit to Rs 167.31 crore for the fourth quarter ended December 31, 2016.

Nestle India's instant noodles brand Maggi, whose sales were severely hit by the Food Safety and Standards Authority of India (FSSAI) ban in 2015, has now cornered close to 60 per cent market share, a top company official said.

The Supreme Court will on Friday hear the Maggi noodles matter on the application of Nestle India Ltd, who had approached it seeking 550 tonnes of seized expired stock be handed over to them by the Food and Safety Standards Authority of India (FSSAI) so that the stock can be destroyed.