India's Milky Mist falls on media reports of factory inspections
BUZZ-India's Milky Mist falls on media reports of factory inspections ** Shares of Milky Mist Dairy Food MILY.NS fall as much as 4.9% to 304.75 rupees
** Stock set for three straight sessions of losses, if drop holds
** Co says it has taken note of certain media reports and social media posts referring to an alleged communication by the Food Safety and Standards Authority of India (FSSAI) concerning its paneer (cottage cheese) products
** Some local media outlets reported last week that central food-safety authorities ordered an inspection of MILY’s manufacturing plant at Perundurai in Erode district of Tamil Nadu, including concerns over the quality of its paneer
** MILY says it has not received any specific notice, order or communication from FSSAI or the Tamil Nadu Food Safety Department directing an inquiry into paneer products
** Stock up 71% since listing on August 18
(Reporting by Puyaan Singh in Bengaluru)
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