Milky Mist Dairy Food Ltd. STOCK DOWN 4.5%

Milky Mist Dairy Food shares came under selling pressure on October 12, despite the company issuing a clarification regarding media reports about concerns over its paneer products. In an exchange filing dated October 10, the company acknowledged media reports and social media posts referring to an alleged communication from the Food Safety and Standards Authority of India (FSSAI) concerning its paneer products. The company clarified that, as of the date and time of the disclosure, it had not received any specific notice, order or communication from either FSSAI or the Tamil Nadu Food Safety Department directing an inquiry into its paneer products, contrary to the claims made in the reports. Milky Mist added that it would respond appropriately to any communication received from the relevant authorities and take necessary action in accordance with applicable laws. From a technical perspective, Milky Mist Dairy Food is showing short-term weakness following a strong rally. The stock was trading at Rs 308.35, indicating weakening price momentum. The immediate support level is placed at Rs 305. A break below this level could trigger further downside towards Rs 300. On the upside, resistance is seen in the Rs 318–322 range, followed by a stronger resistance zone at Rs 330–335. Given the prevailing technical weakness, fresh buying at current levels is not recommended. Milky Mist Dairy Food is a packaged food company with a diversified portfolio spanning cheese, paneer, curd, ghee, yogurt, ice cream, chocolates, frozen foods, and ready-to-eat and ready-to-cook products. Its offerings are marketed under the Milky Mist brand and sub-brands such as SmartChef, Capella and Misty Lite, along with the recently acquired Briyas and Asal brands.