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Nestle India stocks down 4 percent

Published

9 years ago

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Mumbai: A day after the central government filed a complaint against Nestle India with the National Consumer Disputes Redressal Commission (NCDRC), the stocks of the fast moving consumer goods (FMCG) major were dented in the mid-afternoon trade session on Thursday.

The government had complained to NCDRC that the company’s best-seller brand Maggi noodles, which may contain higher-than-permissible levels of some substances like Lead.

Food and Consumer Affairs Minister Ram Vilas Paswan on Wednesday said the NCDRC will probe the matter and take appropriate action.

He said the government, for the first time, was taking action under Section 12-1-D of the Consumer Protection Act under which both the central and state governments have powers to file complaints.

The Delhi government has banned Maggi noodles for 15 days.

On the Bombay Stock Exchange (BSE), the company’s stock declined by around 4 percent or 229.30 points at Rs.5,961.80 per equity share at 1.15 p.m. from its previous close of Rs.6,191.10.

The scrip had touched a low of Rs.5,800.10 in the intra-day trade so far.

“The Maggi issue has dented the stock heavily. The stock is generally an outperformer even when the markets are down,” said Vinod Nair, head for fundamental research, Geojit BNP Paribas Financial Services.

“But for short-to-medium term there will be a downward trend. However, long-term investors do not need to be worried as the stock still remains very attractive.”

Nestle maintains that its product was safe for consumption.

Several states have sent the product for testing for higher-than-permissible levels of substances like Lead. Some major departmental stores across the country have take off the product from its shelves.

On Wednesday, the stock declined by 9.05 percent or 616.35 points at Rs.6,191.10 per equity share from its previous close of Rs.6,807.45.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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