Nestle India shares continue to decline for second day
Nestle India shares: Shares of Nestle India slipped for the second consecutive session on Friday, April 19, amid reports that the global FMCG major sold infant milk products with more sugar content in less developed countries.
The stock of the company slipped as much as 3.53 per cent during the session to hit a low of Rs 2,375.75 on the BSE. However, it recovered later, and at 2:39 pm, shares were trading 0.78 per cent lower at Rs 2,443.45 apiece.
On the NSE, shares dipped 2 per cent to Rs 2,412.05 apiece. On Thursday, the shares of Nestle India had declined over 3 per cent.
Nestle India on Thursday said it has reduced added sugar on baby food products in India by over 30 per cent, depending on variants, over the past five years, amid reports that the global FMCG major sold products with more sugar content in less developed countries.
According to findings by a Swiss NGO, Public Eye, and the International Baby Food Action Network (IBFAN), Nestle sold baby products with higher sugar content in less developed South Asian countries, including India, Africa, and Latin American nations, as compared to markets in Europe.
When reached out for comments, a company spokesperson said, “Reduction of added sugars is a priority for Nestle India. Over the past 5 years, we have already reduced added sugars by up to 30 per cent, depending on the variant.”
The spokesperson further said, “We regularly review our portfolio and continue to innovate and reformulate our products to further reduce the level of added sugars, without compromising on nutrition, quality, safety, or taste.”
Nestle India asserted that its “infant cereal products are manufactured to ensure the appropriate delivery of nutritional requirements such as protein, carbohydrates, vitamins, minerals, iron, etc. for early childhood.”
“We never compromise and will never compromise on the nutritional quality of our products. We constantly leverage our extensive global research and development network to enhance the nutritional profile of our products,” the spokesperson said.
With PTI inputs
