SINGAPORE -- Nestle India shares surged Tuesday after food-safety regulators gave the company's popular instant noodle line the all-clear, wrapping up an investigation into possible lead contamination.
India's Central Food Technological Research Institute certified that all 29 submitted samples of Maggi brand instant noodles met safety standards, the Nestle unit said Monday evening. "We appreciate the positive consumer response to the return of Maggi noodles to the market and are working diligently to reintroduce more variants very soon," the company said.
Indian regulators ordered the Maggi line pulled from shelves last June, alleging the products contained higher-than-permissible levels of lead. The line was reintroduced in November after initial tests found the noodles were safe for consumption.
The temporary hold on sales of the popular products dented Nestle India's earnings, leading its shares to sink 8% during 2015 on the Bombay Stock Exchange. But the company's shares closed up 4.72% at 6,147.80 rupees ($92.52) Tuesday after the news broke, at one point hitting 6,185 rupees.