Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
IndusInd Bank, Bharti Airtel, HUL, M&M, Tata Steel, PowerGrid and Tech Mahindra too ended with gains on the BSE.
Nestle India currently exports Maggi noodles to Canada, UK, Singapore and Kenya and to third parties in the US, Australia and New Zealand
The court was hearing a petition filed by Nestle India.
The company was, however, silent on the presence of the taste enhancer monosodium glutamate in the famous 'two-minute' noodle brand.
Companies from Nestle and ITC to Hindustan Unilever and Patanjali have pledged to reduce use of unhealthy ingredients by five to 50 per cent
Names such as Danone, Dabur, Mondelez and Abbott Healthcare have also figured on the list of suitors.
In Uttar Pradesh, standards for 'Macaroni products' are being applied for 'Instant Noodles with seasoning' which is erroneous and misleading, alleges Nestle.
Earlier in the day, the Kendriya Police Kalyan Bhandar circulated an order stating that 1,026 products manufactured by firms such as Bajaj, Dabur, VIP industries, Eureka Forbes, Jaquar, HUL (foods) and Nestle India will not be sold at CAPF canteens anymore as they are not 'swadeshi' or are prepared from 'purely imported products'.
The couple opened the package and saw live beetles inside the packet, which had a May 20, 2016 as the expiry date.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
Fast Moving Consumer Goods major Nestle may face more action by the Uttar Pradesh Food Safety and Drug Administration, which is testing more batches of Maggi after ordering recall of a batch of about 2 lakh packs of the instant noodles due to higher than permitted levels of lead and a food additive.
FMCG firms such as ITC, Parle Products, Marico, Emami, PepsiCo India and CG Corp Global on Wednesday assured uninterrupted supply of their products based on the learnings from the last year's lockdown, even as surge in COVID-19 cases in India forced Maharashtra to declare a 15-day curfew while other states also imposing various restrictions.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
Maggi re-entered the market on November 9.
On August 13, Bombay High Court lifted the ban on nine variants of the fast food.
The trouble for Nestle's Maggi started in Uttar Pradesh last month and has now spread nationwide. The Food and Drug Administration has directed all states on Wednesday to get sample of India's most popular instant noodles tested for high content of lead and mono-sodium glutamate, a taste enhancer.
Having learnt their Maggi lessons hard way in 2015, the FMCG sector is desperately looking for a brighter new year with hopes pinned on revival in rural demand.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
"I believe in driving big brands. It is very important to have focus in your approach towards placing new brands in a market. Just because we are present across 10-15 categories internationally doesn't mean we can roll out the products everywhere," says Martial Rolland, MD, Nestle India said.
Picking up the consumer switch to healthier drinks, Nestle India is expanding its liquid milk portfolio with specially formulated milk for people who may be lactose-intolerant or diabetic.
The lawyer had urged the court to hear the matter urgently.
In yet another blow for Nestle India, live larvae and worms have been found in their milk powder in Coimbatore.
But Bachchan added that he hadn't received any notice in connection with the product that he "stopped promoting" two years ago.
Celebrities endorsing Maggi can face action If Maggi is tested of high content of MSG.
Is India's most popular instant noodles banned in Uttar Pradesh?
While sales momentum from rural areas may last another three to six months, sales growth in urban areas could stage a comeback by next year's June quarter as people learn to live with the coronavirus and economic activity gradually improves in the cities.
New packets will have to be tested again in three laboratories; these laboratories are specified by the court.
According to Nielsen, rural growth has plunged to a low 5 per cent in the third quarter of quarter from a high 20 per cent a year ago. This has for the first time in seven years rural growth has fallen below urban levels.
Maggi has also come on the radar of US Food and Drug Administration.
Nestle withdraws Maggi noodles in India after a MSG controversy cropped up recently.
The apex consumer court on Monday issued notice to Nestle India Limited on a Rs 640-crore or Rs 6.40 billion suit against it by the Centre.
Decision to avoid investor backlash.
A Bihar court on Tuesday ordered that an FIR be registered against Maggi brand ambassadors Amitabh Bachchan, Madhuri Dixit and Preity Zinta and arrest the cinestars.
The HC had earlier refused to grant relief to Nestle by rejecting its plea for stay of the orders of the food regulator banning nine variants of Maggi noodles.
ITC on Monday said it is conducting more tests on its products at accredited labs across India.
The company is listed among the top suppliers of food and beverage products for people in Chennai
After Maggi, the sample of macroni pasta was taken from Mau and sent to National Food Analysis Laboratory.
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
Nestle India is unlikely to remain listed for a long time in the future on Indian stock exchanges, according to Citigroup's equity research arm Smith Barney's latest report on the Swiss major's annual report for 2002-03.
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