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The Economic Times
The Economic Times
Business
Kumar Gaurav

Nestle India shares slip nearly 3% after FSSAI initiates legal action over infant nutrition products

Nestle India FSSAI India NSE Kumar Gaurav SEBI

Shares of Nestle India came under pressure on Friday, September 18, falling nearly 3% during intraday trading after the Food Safety and Standards Authority of India (FSSAI) initiated legal action against the fast-moving consumer goods (FMCG) company over alleged non-compliance involving its NAN Excella Pro Stage 1 and Lactogen Pro 1 infant nutrition products.

The packaged foods supplier’s shares declined 2.75% to hit an intraday low of Rs 1,332.80 apiece on the NSE. Nestle India shares have declined 14.17% from their 52-week high of Rs 1,553 apiece, touched on August 7.

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