India's Pearl Global, Marico slide after concerns around Bangladesh exposure

Pearl Global Industries

06/08/2024 07:31

** Indian garments maker Pearl Global Industries  PGIL.NS 
falls 3.3%, consumer goods maker Marico  MRCO.NS  drop 3.8% 
        ** Cos among those that have highest revenue exposure to
Bangladesh at 24% and 11%, respectively, stoking concerns,
analysts at SMC Global and Motilal Oswal say, as Bangladesh
grapples with political unrest after Sheikh Hasina's resignation
as PM on Monday 
    ** MRCO says it is watchful of ongoing issues in Bangladesh
and impact is not immediately clear 
    ** Garden Reach Shipbuilders  GRSE.NS , which gets vessel
orders from Bangladesh and calls it a "focus" country, down 3.4%
    ** Meanwhile, Indian garment makers rise on the day on hopes
that because of unrest, big brands outsourcing their
manufacturing to Bangladesh may see India as an option, analyst
says

 (Reporting by Hritam Mukherjee and Bharath Rajeswaran in
Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))