CSE India’s report about breads was indicating Potassium Bromate and Potassium Iodate presence in many branded Company’s product and it affects the shares’ pricing today. Britannia Industries and Jubilant Foodworks’ shares came under pressure.
Centre for Science and Environment (CSE) survey showed that nearly 84 per cent of 38 commonly available brands of packaged breads including pav, buns and pizza are having content of potassium bromate and potassium iodate and both these elements are banned in many countries as they are listed as “hazardous” for public health.
Today, on 24 May 2016, shares of Jubilant Foodworks were 10% down at Rs 1002.20 while it has opened at Rs 1124 and it has touched low of Rs 975.
While Britannia Industries’ Shares were 1.55% down at Rs. 2639.30 while it has opened at Rs 2685. BSE Sensex was trading 20.90 points, up at 25,251.
Bread samples were taken from Delhi of all top brands and the tested samples were containing cancer causing chemicals and Union Health Ministry to order a probe.
Westlife Development shares also got down almost 9 per cent today. Westlife Development operates McDonald’s restaurant in west and south India. CSE India have tested the bread samples of Britannia, Harvest Gold, KFC, Pizza Hut, Domino’s, Subway, McDonald’s, Slice of Italy and more. Some of these Companies have denied about the use of these chemicals in their products while some have not given any comment.
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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