Shares of Nestle India slipped 3% on Friday amid reports that the Food Safety and Standards Authority of India (FSSAI) has issued a notice to the company over alleged detection of Insect / Larvae in the Maggi packet. Stock of Nestle India fell over 3% to Rs 1370 in the current session against the previous close of Rs 18,084 on BSE. Market cap of the firm fell to Rs 2.65 lakh crore. Total 1.08 lakh shares changed hands amounting to a turnover of Rs 15.06 crore. Later, the stock ended 3.23% lower at Rs 1375.85.    

Nestle India shares are trading lower than 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day and 200 day moving averages. 

Nestle India stock has gained 13% in three months but fallen 6.24% in a month. 

According to reports, FSSAI has taken cognisance of complaints circulating on social media and issued notices to multiple companies. 

According to the notice, the FSSAI has sought a detailed Action Taken Report (ATR), including:

1. Details of the suppliers and manufacturing sources associated with the affected batch, along with findings from internal quality assurance reviews and inspection records.

2. Immediate containment and corrective actions undertaken by the company for removal of the impacted products from the distribution and supply chain network.

3.  Comprehensive preventive measures being implemented to strengthen quality control processes, enhance supplier oversight, and ensure that similar incidents are avoided in the future.