Nestle India Ltd clarifies on ending deal with SAJ Foods

The Exchange had sought clarification from Nestle India Ltd with respect to news appearing in The Economic Times on September 29, 2015 titled "Nestle removes Maggi from SAJ Food's Platter - SWISS GIANT ENDS 12YEAR DEAL Maggi from SAJ Food's Platter".

Nestle India Ltd has said that, as part of a standard process the company reviews its overall manufacturing capacity every two years on the basis of volume projections, it took the decision to bring the co-manufacturing with Saj Industries Private Limited to an end.

With the capacity expansion at its own factories in 2012, the company would be utilizing its own manufacturing facilities.

The above is a normal business transaction and do not have any bearing on the operations of the company.

Shares of NESTLE INDIA LTD. was last trading in BSE at Rs.6210 as compared to the previous close of Rs. 6202.65. The total number of shares traded during the day was 1878 in over 524 trades.

The stock hit an intraday high of Rs. 6247.4 and intraday low of 6101.55. The net turnover during the day was Rs. 11613731.

Source : Equity Bulls

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