GAGA Share Market News

[hfe_template id='11223'] [ad_1] As the deep political turmoil in Bangladesh may force textile companies to start outsourcing from other countries like India, textile stocks like Gokaldas Exports, Century Enka, and SP Apparels rallied up to 18% on Tuesday morning. Shares of Gokaldas Exports zoomed 18% to a fresh 52-week high of Rs 1,089.40 on the NSE as investors believe that the Bangladesh crisis will boost textile exports from India. Other top gainers were KPR Mill (16%), Arvind Ltd (11%), SP Apparels (18%), Century Enka (20%), Kitex Garments (16%) and Nahar Spinning (14%). "This unrest will undoubtedly damage the country's brand value in the eyes of the US and European manufacturers, who often give Bangladesh preference. Consequently, the garments and textile sector in India may gain an advantage due to these ongoing protests and clashes," Vikram Kasat – Head of Advisory at Prabhudas Lilladher, said. However, yarn exporters may get hit as Bangladesh is t...

[hfe_template id='11223'] [ad_1] Sheikh Hasina's ouster as Bangladesh Prime Minister following violent protests over job quotas has not just made India's neighbourhood vulnerable to security risks, the crisis also has ramifications for Indian companies, many of which are listed on stock exchanges. The impact of the political turmoil was seen in shares of Saffola edible oil manufacturer Marico. The stock fell over 4% as its sales in Bangladesh, from where it earns around 11-12% of revenue, may be impacted. A number of other companies like Pearl Global Industries, Emami, Bayer Corp, GCPL, Britannia, Vikas Lifecare, Dabur, Asian Paints, Pidilite, Jubilant Foodworks and Bajaj Auto have presence in Bangladesh. Pearl Global Industries, which derives around one-fourth of its revenue from the troubled zone, said its Bangladesh facilities are currently temporarily non-operational due to curfew. The shares were down over 3%. Similarly, shares of Emami dropped over 4%. Bang...