However, none of the permanent workers involved in manufacturing of Maggi at the Moga plant have been retrenched
Nestle's Maggi 'shock therapy' worked. Nestle probably required such shock treatment as the June 2015 ban on Maggi noodles to jerk it out of its ennui, suggests Suresh Narayanan, now chairman and managing director of Nestle's India business.
Besides, the ongoing war between Russia and Ukraine has also added another blow to FMCG makers as they expect a rise in the prices of wheat, edible oil and crude. Companies such as Dabur and Parle are watching the situation and will undertake calibrated price increases to mitigate the inflationary pressures.
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.
Nestle India has tied up with five cement manufacturing units.
On the Sensex chart, SBI was the top gainer, rallying around 4 per cent, followed by Bharti Airtel, Reliance Industries, HDFC Bank, ITC, Axis Bank and NTPC. NSE Nifty advanced 78.70 points to a fresh closing peak of 14,563.45.
Nestle relaunched Maggi noodles on November 9.
Nestle desires to relaunch Maggi by the end of this year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.
On June 5, FSSAI banned Maggi noodles.
Nestl India is preparing a blueprint for a possible relaunch.
In fresh troubles for Nestle over safety standards of its famous Maggi noodle brand, the Uttrakhand Food Safety Department has collected samples of the 'two-minute' noodles from the company's Pantanagar plant and other places in the state.
Nestle says newly manufactured Maggi found safe in tests; to start retail sales this month.
The ash content in Maggi Masala was found to be 1.85 per cent, which is higher than the permissible limit of one per cent.
The state government had in the first week of June banned Maggi sale in the state after the product failed the food safety test.
Nestle India resumed the production from Pantnagar.
A huge stock of Maggi noodles was destroyed by Nestle after the ban was imposed by the food regulators.
Nestle India Ltd submitted to BSE a copy of the press statement.
It is not just Nestle India which has violated the regulatory and manufacturing standards leading to recall of its products.
A case was lodged on Saturday against Nestle India in a local court here over safety standards of its Maggi product, while actors Amitabh Bachhan, Madhuri Dixit and Preity Zinta have also been separately dragged to the court for promoting the 'two-minute' noodles brand.
Nestle India had re-launched Maggi earlier this month with a mandate of being safe for consumption amid much fanfare
Nestle India said in a statement on Friday that its managing director for India, Etienne Benet, would move to the group's head office in Switzerland.
Canadian regulator did not find any health risk in consuming Maggi noodles
Maggi ban: SC orders fresh testing at Mysore lab.
Some analysts see more upside in FMCG stocks given the performance gap between the sector and the market.
Chocolate majors in India posted healthy top-line growth in FY19. While Mondelez India Foods - the marketer of Cadbury - continued to lead the pack, Nestle India, which dominates the confectionery space with leading brands like Kitkat and Munch, continues to hold the third spot in revenue. However, two of these companies - Mars International India and Hershey India - still remain in the red.
Maggi banned in Delhi for 15 days.
Agri-Food and Veterinary Authority of Singapore had taken samples of the noodles for testing.
Nestle India said it will continue with the existing formula of the product and not change the ingredients
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.
Although large companies like Nestle, Dabur or HUL have been impacted by this slowdown in demand, it was the small, local players that have been hit harder.
SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel.
In Uttar Pradesh, standards for 'Macaroni products' are being applied for 'Instant Noodles with seasoning' which is erroneous and misleading, alleges Nestle.
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
The couple opened the package and saw live beetles inside the packet, which had a May 20, 2016 as the expiry date.
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.
