Business & Finance
27 February 2024, 12:33 am 1 minute
Reuters was first to report that India’s western state of Maharashtra will inspect outlets of global fast-food brands to check if they use cheese alternatives in products wrongly promoted as containing real cheese, widening scrutiny beyond a crackdown on McDonald’s.
Market Impact
Shares of McDonald’s India franchisee plunged as much as 6.7% to their lowest level since May 2023 after the Reuters report. Domino’s operator Jubilant Foodworks and KFC operator Devyani International also fell about 1% and 4% respectively.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: India
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story