Marico's Shares Plunge Amid Bangladesh's Political Turmoil

Shares of FMCG giant Marico dropped by 6.50% due to political unrest in Bangladesh. The country contributes significantly to Marico's international sales. The crisis has affected Marico's market valuation, which dipped by Rs 5,657.55 crore. Despite this, Marico reported a 10% growth in its Bangladesh market for the June quarter.

Shares of FMCG major Marico plummeted by 6.50 per cent on Tuesday due to political instability in Bangladesh, a key global market for the company.

Bangladesh, a significant contributor to Marico's international sales, saw the company's stock settle at Rs 628.70 on the BSE, a rate that dipped as low as Rs 626.40 during the day.

At the NSE, the shares dropped by 6.49 per cent to close at Rs 628.50, reducing the company's market valuation by Rs 5,657.55 crore to Rs 81,393.68 crore.

Bangladesh is dealing with its worst political crisis since its 1971 independence, following the resignation of Prime Minister Sheikh Hasina amid widespread anti-government protests.

Despite the turmoil, Marico continues to expand its market footprint as indicated by a 10 per cent growth in its Bangladesh market during the recently concluded June quarter.

Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd, noted that companies like VIP Industries and Marico, which have substantial operations in Bangladesh, are facing significant challenges due to the crisis.