The unrest in Bangladesh has not only affected enterprises and citizens based in the South Asian country, but also many international brands that are dependent on the country either as a manufacturing hub or as a consumer market for various products.
Unrest Raises Concerns
One such entity that reportedly has stakes in the recent happenings, or at least stands to be affected by the unrest that has ensued in the streets of Dhaka, is Mumbai-based consumer products company Marico. After the resignation of the now-former PM Sheikh Hasina, turbulence has only escalated.
The company shares lost over 3 per cent during the intraday trade on August 6.
The protest in Bangladesh have led by the students, who have fiercely opposed the reservation system in the country. | File
According to reports, the company's arm in Bangladesh, Marico Bangladesh Ltd., plays a consequential role in the company's overall performance.
In fact, according to an NDTV report, when it comes to the company's international business market, a mammoth 44 per cent of its revenue is from its enterprise in the Bengali-speaking country.
In addition, the company made a staggering Rs 1,103 crore from its Bangladeshi arm in the previous fiscal year, FY24.
Marico Shares Drop
The FMCG company has had a relatively bad day today as the company shares have progressively slumped.
This is happening on a day when the larger picture looks stable as the Indian indices rebounded in this trading session. It is also interesting to note that Marico's was one of the few shares to do well in yesterday's bloodbath.
At 11:53 IST, Marico shares dropped significantly by 3.84 per cent or Rs 25.80, slumping to Rs 646.35 per share.
As for developments in Bangladesh, the country has had disconcerting scenes emerge from its streets, as the Bangladeshi army has claimed to have taken the onus of formulating the next interim government.
Sheikh Hasina's exact whereabouts are not known, but she is said to have fled to India.
