Bangladesh is mired in political uncertainty after widespread protests over job reservation. In the new circumstances, Prime Minister Sheikh Hasina had to resign and leave the country. At the same time, it is having an impact on Indian companies as well.
This environment is likely to affect 12 listed companies in India. A glimpse of which was also seen during trading on Tuesday.
On Tuesday and the second business day of the week on August 06, most of the stocks present in Bangladesh appeared under pressure. Let us tell you that many companies like Britannia, Vikas Lifecare, Dabur, Asian Paints, Marico, Pearl Global Industries, Pidilite, Jubilant Foodworks, Emami, Bayer Corp, GCPL and Bajaj Auto have their presence in Bangladesh. Apart from this, it is also part of the supply chain of companies like Bangladesh Trent, PDS and VIP Industries.
Adani Power, a Gautam Adani Group company, also has a presence in Bangladesh. Prime Minister Sheikh Hasina's resignation has sparked debate over the potential implications of the power supply agreement with Adani Power Limited. Experts say Bangladesh needs power supply and any decision will affect investor sentiment.
Let us tell you that Adani Power has to supply electricity from its Godda Power Plant in Jharkhand under Power Purchase Agreement (PPA) with Bangladesh Power Development Board (BPDB) in 2017.
Under the agreement, this supply will be done for 25 years through a 400 KV dedicated transmission system connected to the Bangladesh grid. The project was launched in June 2023.
Adani Power shares were in a dull mood on Tuesday. On the second trading day of the week, the stock fell nearly 1 percent to Rs. closed at 687.25. Let us tell you that the 52-week high of the stock is Rs 896.75. This price was as on June 3, 2024.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. Failure to do so may result in financial losses.
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