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HUL Withdraws Chinese Knorr Noddles; Shares Trade Steady

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Close on the heels of the controversy surrounding the Nestle range of Maggi noodles, Hindustan Unilever has decided to withdraw its Chinese noodles.

 

HUL Withdraws Chinese Knorr Noddles; Shares Trade Steady
Hindustan Unilever: Quotes, News
BSE 2456.35BSE Quote33.55 (-1.37%)
NSE 2455.50NSE Quote34.65 (-1.41%)
"HUL had submitted an application with FSSAI for product approval for the Knorr Chinese range of instant noodles in February 2015 and the same is pending approval.

In conformance with the FSSAI advisory to State FDAs dated June 8, 2015 with regard to product approvals, HUL has decided to stop production and sale of its Chinese range of instant noodles till such time as its application is approved by FSSAI. HUL is initiating a withdrawal of its Chinese instant noodles from the market."

The Knorr range of Chinese noodles does not form a significant part of HUL's revenues, which is why the shares continued to trade steady.

The shares were last trading at Rs 827, up one per cent and were only among three of the 30 Sensex stocks that were trading with gains.

GoodReturns.in

Read more about: hul
Story first published: Thursday, June 11, 2015, 12:22 [IST]
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