Nestle India slips after food regulator initiates legal action over infant nutrition products
BUZZ-Nestle India slips after food regulator initiates legal action over infant nutrition products ** Shares of Nestle India NEST.NS reverse course to fall 2.1%, after rising as much as 1.41% earlier in the session
** India's food safety regulator FSSAI says it initiated legal action against co over alleged non-compliance with food safety regulations involving three infant nutrition products
** Regulator says promotional claims for NAN Excella Pro Stage 1 and Lactogen Pro 1 violated rules restricting promotional material intended to increase sales
** FSSAI also says a sample of another infant nutrition product made by Nestle was found sub-standard for biotin content
** Regulator says three separate adjudication cases have been filed against co over the products
** YTD stock up 4.23%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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