In its June quarter investor presentation released on Monday, Marico had disclosed that it intends to bring down the contribution from Bangladesh from 51% of the international revenue at the end of financial year 2022 to less than 40% <\/strong><\/p>\r\n Shares of Marico Ltd. are trading with losses of over 4% in early trade on Tuesday as an aftermath of the ongoing political crisis in Bangladesh.\u00a0 Top gainers: ONGC, Coal India, Bajaj Auto, Adani Ports, BPCL<\/strong><\/p>\r\n Bangladesh is going through an unprecedent political crisis,\u00a0that has led to Prime Minister Sheikh Hasina fleeing the country for a ‘safer place’ after stepping down. The army will now form the interim government in the country.<\/strong> With Monday’s drop, shares of Hindustan Aeronautics are down 20% from their recent highs of \u20b95,678, which it had hit on July 5 this year.\u00a0<\/strong><\/p>\r\n Shares of Hindustan Aeronautics Ltd. are trading with losses of over 2.5% on Monday, extending its losses for the fifth day in a row. The stock, at the day’s low, was down over 4%, in-line with the sentiments of the global markets. With Monday’s drop, shares of Hindustan Aeronautics are down 20% from their recent highs of \u20b95,678, which it had hit on July 5 this year.<\/strong>
The country is a major component of Marico’s international business,\u00a0which contributes to a quarter of the FMCG company’s overall topline.<\/strong>
12% of Marico’s consolidated revenue comes from the Bangladesh market. For the international business on a standalone basis, the country contributes nearly half or 44% of the total revenue.<\/strong>
In its June quarter investor presentation released on Monday, Marico had disclosed that it intends to bring down the contribution from Bangladesh from 51% of the international revenue at the end of financial year 2022 to less than 40% by the end of financial year 2027.<\/strong><\/p>\r\nHAL shares extend losses to 20% from record high, but still trades above historical valuations<\/h4>\r\n
On the charts, the stock has slipped below its 50-Day Moving Average, which was at levels of over \u20b95,100 and is now looking for support at its 100-day Moving Average, which is placed at levels of \u20b94,419. HAL’s shares had made an intraday low at \u20b94,480 on Monday.<\/strong>
The Relative Strength Index (RSI) on the charts are also heading towards oversold territory, currently placed at 33. An RSI reading below 30 indicates that the stock is in “oversold territory.”<\/strong>
A report in the Hindustan Times last Thursday mentioned that there is uncertainty to meet the delivery timeline from HAL’s stable for the new Tejas Light Combat aircraft for the current financial year and beyond.<\/strong><\/p>\r\n