From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
The central government has said it will look into the matter.
Automobile, apparel and electronics are among sectors that see a sales boost during the festival season, a time when investors expect gains in related stocks. This year could be different: Analysts have factored in all positives and do not expect such stocks to deliver lucrative returns. "Indian households spend across sectors like automobiles, consumer durables, and consumer staples during the festival season.
Nestle is sure to go for a relaunch of the noodles soon enough with an advertising blitz,
Thinking on its feet, Nestle has stayed ahead of rivals.
Maggi was banned by Food Safety and Standards Authority of India in June 2015 for five months for allegedly containing lead beyond permissible limits
India has been a tea sipping society. But the aromatic wave of coffee culture is wafting across it.
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
'Maggi issue gave us room for introspection.'
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestl India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
The double-digit growth in itself is eye-popping, given the FMCG sector has seen low single-digit volume growth in recent times.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
From the 30-share pack, Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the major laggards. NSE Nifty declined 69.75 points to settle at 17,153.
The Indian operation of the Swiss food group employs more than 5,000.
This time food regulators found excess presence of ash content in Maggi
Lessons Nestle must learn from its big mistakes
Nestl India is preparing a blueprint for a possible relaunch.
Nestle now has less than two weeks to convince the regulator why product approval for its noodles should not be withdrawn
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Stocks of smallcap and midcap companies, which had caught the fancy of retail investors, also feature in the portfolio of leading politicians in addition to bluechip stocks.
About 27,420 tonnes of Maggi noodles will end up in furnaces.
At 40 years and 126 days, Sunil Chhetri became the oldest hat-trick scorer in the ISL history
Is India's most popular instant noodles banned in Uttar Pradesh?
Nestle on Monday started a market rollout of Maggi noodles.
HCL Tech led the Sensex gainers' chart, spurting 3.58 per cent, followed by UltraCement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC twins. In contrast, ITC, Maruti, NTPC, Asian Paints and Sun Pharma were among the main laggards, shedding up to 1.51 per cent.
Nestle India Ltd submitted to BSE a copy of the press statement.
Nestle says newly manufactured Maggi found safe in tests; to start retail sales this month.
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the benchmark Sensex touching its lifetime peak of 53,887.98 points. Rallying for the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent. During the day, it zoomed 937.35 points to 53,887.98 points.
Nestle India has tied up with five cement manufacturing units.
A huge stock of Maggi noodles was destroyed by Nestle after the ban was imposed by the food regulators.
The state government had in the first week of June banned Maggi sale in the state after the product failed the food safety test.
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.
Nestle India resumed the production from Pantnagar.
Nestle India currently exports Maggi noodles to Canada, UK, Singapore and Kenya and to third parties in the US, Australia and New Zealand
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Before the ban, Maggi commanded a market share of around 75 per cent. Following legal battles, the popular noodles brand was back in the market in November last year.
Nepal is testing Nestle's Maggi noodles imported from India for lead content and may impose a ban on the popular instant snack if the level of toxic chemical is found to be above permissible limit, officials said.
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