NEW DELHI: Shares of Nestle India fell over 3 per cent on Thursday as the global FMCG major sold infant milk products with higher sugar content in less developed countries.
The stock closed 3.31 per cent lower at Rs 2,462.75 on BSE. It fell 5.40 percent to Rs 2,409.55 during the day.
This was the biggest fall among BSE Sensex companies.
Shares of the company closed at Rs 2,471 on NSE, down 2.94 per cent.The market capitalization (MCAP) of the company declined by Rs 8,137.49 crore to Rs 2,37,447.80 crore.
Nestle India on Thursday said it has reduced the amount of added sugar in baby food products in India by more than 30 per cent in the last five years, amid reports that the global FMCG company is selling products with high sugar content in less developed countries. Which depends on the variant.
According to findings by Swiss NGO, Public Eye and the International Baby Food Action Network (IBFAN), Nestlé sold baby products with higher sugar content in less developed South Asian countries, including India, and African and Latin American countries, compared to its markets in Europe.
When contacted for comment, a company spokesperson said, "Reduction in added sugar is a priority for Nestlé India. Over the last 5 years, we have already reduced added sugar by up to 30 per cent depending on the type Is.,
The spokesperson further added, "We regularly review our portfolio and continue to innovate and improve our products to reduce the levels of added sugars, without compromising nutrition, quality, safety and taste."
Nestle India claimed that its "infant cereal products are manufactured to ensure proper supply of nutritional requirements like proteins carbohydrates, vitamins, minerals, iron etc. for early childhood".
“We have never and will not compromise the nutritional quality of our products,” the spokesperson said. “We continually leverage our extensive global research and development network to enhance the nutritional profile of our products."
The stock closed 3.31 per cent lower at Rs 2,462.75 on BSE. It fell 5.40 percent to Rs 2,409.55 during the day.
This was the biggest fall among BSE Sensex companies.
Shares of the company closed at Rs 2,471 on NSE, down 2.94 per cent.The market capitalization (MCAP) of the company declined by Rs 8,137.49 crore to Rs 2,37,447.80 crore.
Nestle India on Thursday said it has reduced the amount of added sugar in baby food products in India by more than 30 per cent in the last five years, amid reports that the global FMCG company is selling products with high sugar content in less developed countries. Which depends on the variant.
According to findings by Swiss NGO, Public Eye and the International Baby Food Action Network (IBFAN), Nestlé sold baby products with higher sugar content in less developed South Asian countries, including India, and African and Latin American countries, compared to its markets in Europe.
When contacted for comment, a company spokesperson said, "Reduction in added sugar is a priority for Nestlé India. Over the last 5 years, we have already reduced added sugar by up to 30 per cent depending on the type Is.,
The spokesperson further added, "We regularly review our portfolio and continue to innovate and improve our products to reduce the levels of added sugars, without compromising nutrition, quality, safety and taste."
Nestle India claimed that its "infant cereal products are manufactured to ensure proper supply of nutritional requirements like proteins carbohydrates, vitamins, minerals, iron etc. for early childhood".
“We have never and will not compromise the nutritional quality of our products,” the spokesperson said. “We continually leverage our extensive global research and development network to enhance the nutritional profile of our products."
