Britannia, Jubilant FoodWorks shares fall on CSE report

By: | Updated: May 24, 2016 5:06 PM

Shares of Britannia Industries and Jubilant FoodWorks closed lower by 1.06 per cent and 4.14 per cent, respectively.

CSE report on cancer-causing chemicals in bread, pizza put Britannia, Jubilant FoodWorks stocks under pressureCSE report: Shares of Britannia Industries and Jubilant FoodWorks closed lower by 1.06 per cent and 4.14 per cent, respectively. (Photo: Reuters)

Shares of Britannia Industries, Westlife Development and Jubilant FoodWorks remained in focus on Tuesday after a Centre for Science and Environment (CSE) survey showed that nearly 84 per cent of 38 commonly available brands of pre-packaged breads including pav, buns and pizza, tested positive for potassium bromate and potassium iodate, banned in many countries as they are listed as ‘hazardous’ for public health.

Shares of Britannia Industries and Jubilant FoodWorks closed lower by 1.06 per cent and 4.14 per cent, respectively. 

Bread samples of virtually all top brands in Delhi contained cancer-causing chemicals, a study released on Monday said, prompting the Union Health Ministry to order a probe.

Shares of Westlife Development which operates the McDonald’s chain of restaurants in west and south India slipped as much as 9 per cent in Tuesday’s trade. However, the scrip closed 1.11 per cent up at Rs 222.35.

The bread samples which were tested included brands such as Britannia, Harvest Gold and the fast food chains -KFC, Pizza Hut, Domino’s, Subway, McDonald’s and Slice of Italy. However, Britannia, KFC, Domino’s, McDonald’s and Subway denied that these chemicals were used in their products. Other brands did not comment despite repeated attempts.

Reacting to the issue, Britannia denied using Potassium Bromate or Iodate and said, “All Britannia breads products are in 100 per cent compliance to the existing food safety regulations as stipulated by FSSAI.”

In a statement, it, however, said that as per FSSAI, for potassium Bromate/Iodate the permissible limit is 50 ppm max (On flour mass basis).

Jubilant FoodWorks Limited, which owns Domino’s, said that it adheres to the highest quality standards and Indian food laws and follow all process to maintain the highest level of food safety across all our restaurants.

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