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<keyword id="20037655" type="General" weightage="100" keywordseo="India-Bangladesh-trade" source="keywords">India-Bangladesh trade</keyword>, which was disrupted in the wake of the unrest in the neighboring country and the resignation of embattled prime minister <keyword id="20024637" type="General" weightage="20" keywordseo="sheikh-hasina" source="keywords">Sheikh Hasina</keyword>, remained stalled on Tuesday, traders said. <keyword id="22687819" type="General" weightage="20" keywordseo="West-Bengal-Exporters-Coordination-Committee" source="keywords" meta.keywordsubtype="org" meta.entityname="West Bengal Exporters Coordination Committee" meta.hostid="261" meta.entityid="West Bengal Exporters Coordination Committee">West Bengal Exporters Coordination Committee</keyword> secretary Ujjal Saha said trade through <keyword id="20031482" type="General" weightage="20" keywordseo="land-ports" source="keywords">land ports</keyword> in the state has been halted due to "non-clearance of goods by Bangladesh customs, resulting in hundreds of trucks being lined up in parking lots". Trade between the two countries through land ports at Petrapole, Gojadanga, Mahadipur, and Fulbari in <keyword id="19896517" type="General" weightage="20" keywordseo="West-Bengal" source="keywords">West Bengal</keyword> has been affected, while some passenger movement has been reported but turnout remains low, sources said. Saha noted that a Bangladesh government notification issued on Sunday declared a three-day holiday till Wednesday, except for essential services. Trade through Petrapole in North 24 Parganas district, the largest land port, remains halted as the Benapole customs in Bangladesh remained non-functional. Security at the land ports has been increased in response to the situation, he added. Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), emphasised the need to protect factories in Bangladesh and maintain supply lines to sustain trade and economic activities. "As Bangladesh is experiencing political turmoil, it is essential for all political factions to protect garment and other factories and keep supply lines open across the border," he said. Engineering Export Promotion Council chairman Arun Kumar Garodia expressed concern over the political developments in Bangladesh, noting the significant impact on Indian exporters. Bangladesh, a key destination for Indian engineering products, saw a drop in exports to $542.1 million during the April-June period of the 2024-25 fiscal, a decrease of 8.2% from the previous year. Bangladesh is India's largest trade partner in South Asia, and India is the second-largest trade partner for Bangladesh in Asia. India's exports to Bangladesh fell to $11 billion in 2023-24 from $12.21 billion in 2022-23, while imports decreased to $1.84 billion from $2 billion in the same period. India's main exports to Bangladesh include vegetables, coffee, tea, spices, sugar, confectionery, refined petroleum oil, chemicals, cotton, iron and steel, and vehicles, while major imports are fish, plastic, leather, and apparel. Bangladesh's exports to India are heavily concentrated in textiles and garments, which constitute 56% of their exports. Hasina landed at the Hindon airbase on the outskirts of Delhi on Monday, hours after she resigned as the prime minister, following weeks of deadly anti-government protests that killed nearly 300 people.

Trade via Bengal land ports disrupted amid unrest in Bangladesh

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

New Delhi [<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>], June 23 (ANI): India and <keyword id="19919639" type="General" weightage="20" keywordseo="Bangladesh" source="keywords">Bangladesh</keyword> have reiterated their commitment to a free, open, inclusive, secure, and rules-based <keyword id="1574110" type="General" weightage="20" keywordseo="Indo-Pacific-region" source="Orion">Indo-Pacific region</keyword>. The two nations pledged to co-lead the <keyword id="481261" type="General" weightage="20" keywordseo="Disaster-Risk-Reduction" source="Orion">Disaster Risk Reduction</keyword> and Management pillar of the <keyword id="19909557" type="General" weightage="20" keywordseo="Indo-Pacific" source="keywords">Indo-Pacific</keyword> Oceans Initiative (IPOI) and cooperate to mitigate disaster risks. A joint statement was issued following the meeting between Prime Minister Narendra Modi and his Bangladeshi counterpart, <keyword id="66026" type="General" weightage="20" keywordseo="Sheikh-Hasina" source="Orion">Sheikh Hasina</keyword>, during the latter's two-day State visit to India. The joint statement released by India and Bangladesh reads, "Recognizing the contribution of our partnership to peace, security and stability in the region, we reiterate our commitment to a free, open, inclusive, secure, and rules-based Indo-Pacific region." "Based on our converging visions for the Indo-Pacific region and recognizing the vulnerability of the region to adverse impacts of climate change, we will co-lead the 'Disaster Risk Reduction and Management' pillar of the Indo-Pacific Oceans Initiative (IPOI), and cooperate to mitigate disaster risks, build disaster resilient infrastructure, and contribute to the sustenance of our shared maritime region," it added. The two nations pledged to work together on global platforms to promote their common interests, particularly those of the Global South. "With our wide-ranging bilateral cooperation, we also envision India-Bangladesh relationship to become a major anchor for regional and sub-regional integration under the BIMSTEC, SAARC and IORA architectures. We will work together on global platforms to promote our common interests, especially the interests of Global South," the joint statement said. According to the joint statement, India and Bangladesh need to take the relationship to a "deeper and higher quality relationship" based on mutual trust and benefit in the coming days. India and Bangladesh committed to strengthening trade and investment linkages with each other, including through the early commencement of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), the early operationalization of two Special Economic Zones (SEZs) offered by Bangladesh to India in Mongla and Mirsharai, the opening of new border-haats, trade facilitation to enhance bilateral trade, and improving road, rail, air, and maritime connectivity. The joint statement reads, "Resolving to work towards promoting the prosperity of our people, we will strengthen trade and investment linkages with each other, including through early commencement of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), early operationalization of two Special Economic Zones (SEZs) offered by Bangladesh to India in Mongla and Mirsharai, opening of new border-haats, trade facilitation to enhance bilateral trade, improving road, rail, air, and maritime connectivity and trade infrastructure which can transform our geographical proximity into new economic opportunities for our peoples. We will also encourage and support our private sector to seek new investment opportunities in each other's priority areas of economic development." India and Bangladesh agreed to strengthen defence cooperation with a long-term perspective. The two sides will continue to work together for multifaceted military engagements of exercises, training and capability development. The joint statement reads, "Appreciating the significant role of the two countries in ensuring peace, stability and harmony in the region, we will strengthen our defence cooperation with a long-term perspective." "In line with the plans for modernization of the Bangladesh Armed Forces, we will explore defence industrial cooperation for modernization of the Armed Forces of Bangladesh, to strengthen their capability for defence. We will continue to work closely with Bangladesh for our multifaceted military engagements of exercises, training and capability development," it added. Considering the importance of <keyword id="22149253" type="General" weightage="20" keywordseo="water-resource-management" source="keywords">water resource management</keyword> in our bilateral relationship, the two nations continue to engage in prioritising the exchange of data and formulating the framework for interim water sharing based on the recommendations of the Joint Rivers Commission. India and Bangladesh welcomed the formation of a Joint Technical Committee to initiate discussions for the renewal of the Ganges Water Sharing Treaty of 1996, according to the joint statement. The joint statement further reads, "As part of our development cooperation, we will also undertake conservation and management of <keyword id="22048538" type="General" weightage="20" keywordseo="teesta-river" source="keywords">Teesta River</keyword> inside Bangladesh with Indian assistance within a mutually agreed timeframe." On June 21, Bangladesh PM Sheikh Hasina arrived in India on a two-day State visit at the invitation of Prime Minister Narendra Modi. The newly appointed Minister of State (MoS) for External Affairs, Kirtivardhan Singh, welcomed the visiting Bangladesh PM at the airport upon her arrival. This was the first incoming bilateral State visit after <keyword id="2238662" type="General" weightage="20" keywordseo="PM-Modi" source="Orion">PM Modi</keyword> assumed office for the third consecutive term following the Lok Sabha elections. Notably, Sheikh Hasina was among the global leaders who attended the swearing-in ceremony of PM Modi on June 9.

India and Bangladesh reiterate commitment to free, open, inclusive, secure and rules-based Indo-Pacific region

Dhaka: <keyword id="19919639" type="General" weightage="20" keywordseo="bangladesh" source="keywords">Bangladesh</keyword>'s garment industry, a vital economic pillar, is facing a severe crisis due to a volatile mix of <keyword id="20444027" type="General" weightage="20" keywordseo="political-unrest" source="keywords">political unrest</keyword>, including violent protests, and catastrophic flooding, threatening to unravel years of rapid growth and global prominence. The textile and garment industry, which accounts for over 80 per cent of Bangladesh's total export earnings and contributes approximately 11 per cent to the nation's GDP, has been hit hard. This industry contributes significantly to export earnings and employs millions. Following the unprecedented anti-government protests, which reached a crescendo on August 5, Sheikh Hasina resigned as prime minister and fled the country. She landed in India on August 5 and is currently staying there. The two-month-long anti-quota protests have led to widespread demonstrations, curfews, and violence. This unrest has not only disrupted factory operations but has also caused significant economic losses. Factories were forced to close, and with the peak season for Christmas shipments and the booking of next season's orders upon us, the timing of the unrest has exacerbated the crisis. The Bangladesh Garment Manufacturers and Exporters Association (<keyword id="22930680" type="General" weightage="20" keywordseo="BGMEA" source="keywords">BGMEA</keyword>) recently has reported substantial financial losses, estimating a shortfall of Tk 6,400 crore (approx Rs 4,500 crore) due to the shutdowns and communication breakdowns. Khandoker Rafiqul Islam, the newly elected president of the BGMEA, mentioned that the goal of reaching nearly USD 45 billion in exports this year may not be achieved. He attributed this to disruptions in both export activities and production. "I think this is a temporary crisis and we will tide over it. The exact magnitude of the losses will be known later, but yes, there has been an impact," he told PTI. Echoing similar sentiments, former cabinet minister and president of BGMEA, Gholam Sarwar Milon, said the garment industry has been badly hit by both the political unrest and the floods, as both production and the supply chain of raw materials have been severely affected. "The crisis in the garment industry is unprecedented. Production is nearly 15-20 per cent less than the corresponding period last year. Several orders have dried up as investors and order suppliers are wary about investing. Several small factories have either closed down or are working on sub-contracts for big factories," he told PTI. According to BGMEA sources, out of 3,000 major and small garment factories in Bangladesh, nearly 800-900 have closed since last year. "The big factories have survived, but the small and medium factories have borne the brunt. If the situation persists, it will worsen further," he said. Milon suggested that the garment industry needs to diversify into making jute bags and other high-end clothing and also look for new markets. The Bangladesh Textile Mills Association has projected losses of around USD 58 million. The impact on the industry is compounded by the recent flooding, which has further disrupted logistics and exacerbated the economic fallout. Bangladesh's main port, Chattogram, through which more than 90 per cent of the country's international trade transits, has become a focal point of the chaos. The port's operations were paralysed during the political unrest, leading to significant delays in shipments. Factories have struggled to maintain production schedules, and backlogs at ports and airports have stretched to a month in some cases. To mitigate the damage, factories have turned to air freight and extended working hours, but these measures have not fully alleviated the delays. The president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Mohammad Hatem, said orders are down by 15-20 per cent. "The industry has incurred huge losses in the last few months. In 2014, during political unrest, we suffered a similar situation. It then took us three years to return to the previous state. We hope to tide over the situation soon as Chief Advisor <keyword id="20024384" type="General" weightage="20" keywordseo="muhammad-yunus" source="keywords">Muhammad Yunus</keyword> is taking several steps to restore normalcy," he told PTI. Hatem feels that if the situation is not overcome soon, there is a growing perception that foreign investors might look at new markets in other South Asian nations. "However, other South Asian markets don't have the infrastructure like Bangladesh, which has such huge production capacity," he said. The garment industry's workforce, which employs over 4 million people directly and nearly 15 million indirectly, with a significant proportion of women, faces mounting uncertainty. The sector's remarkable growth over the past two decades-from USD 5 billion in exports in 2001 to nearly USD 40 billion in 2023-now stands at risk. The floods have compounded the challenges, causing damage to infrastructure and further complicating logistics. Monsoon rainfall-triggered floods in deltaic Bangladesh and upstream Indian regions have killed several people and marooned or affected nearly 3 million others in Bangladesh, posing a huge administrative challenge to the newly installed interim government amid a political transition. "Due to the floods, the supply chain has been badly affected. We reached a high in 2023-24 where our garment exports touched around USD 46 billion. This time it is likely to be much less," said former army major and owner of a woollen garment factory, Mahfuzur Rehman. The sector's growth from a small-scale operation in the early 1980s to becoming the world's second-largest apparel exporter, after China, underscores its strength. In the financial year 2009, Bangladesh's apparel exports were valued at USD 12 billion. By the financial year 2023-24, this figure had surged to over USD 46 billion, reflecting the industry's capacity for recovery and growth even amid adversity. In response to the crisis, the interim government, now led by Nobel Peace Prize-winning economist Muhammad Yunus, has prioritised restoring order and stability. According to garment industry insiders, the path to recovery is fraught with challenges as the political instability has undermined investor confidence, and the recent flooding has further strained the already fragile infrastructure. "The sector's resilience will be tested as it attempts to regain its footing and restore its reputation as a reliable global supplier," a garment industry owner, who did not wish to be named, said. He added that despite the current crisis, Bangladesh's textile and garment industry has shown great strength and the ability to recover in the past.

Bangladesh garment industry faces crisis amid political unrest and floods

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> and his Bangladeshi counterpart <keyword id="66026" type="General" weightage="20" keywordseo="sheikh-hasina" source="Orion">Sheikh Hasina</keyword> jointly inaugurated three Indian-assisted development projects via video conferencing on Wednesday. The three projects are the Akhaura- Agartala Cross-Border <keyword id="48829" type="General" weightage="50" keywordseo="rail-link" source="Orion">Rail Link</keyword>, Khulna - Mongla Port Rail Line and Unit - II of the Maitree Super Thermal Power Plant in Rampal, <keyword id="6354759" type="General" weightage="20" keywordseo="bangladesh" source="Orion">Bangladesh</keyword>. The inauguration of rail and power sector projects between India and Bangladesh lay focus on strengthened ties and partnership between the two countries. "The joint inauguration of these important projects manifests the firm friendship and collaboration between our two friendly countries. I would like to thank PM Modi for the warm hospitality during my visit in September 2023 to attend the G20 Summit," the Bangladesh Prime Minister said "I express my gratitude for your commitment to strengthening the bonds of friendship between our two countries, Sheikh Hasina said. The Akhaura-Agartala Cross-Border Rail Link project has been executed under a Government of India grant assistance of Rs 392.52 crore extended to Bangladesh. The length of the rail link is 12.24 km with a 6.78 km Dual Gauge rail line in Bangladesh and 5.46 km in Tripura. The Khulna-Mongla Port Rail Line Project has been implemented under the Government of India's concessional Line of Credit with a total project cost of USD 388.92 million. The project entails the construction of approximately 65 km of broad gauge rail route between Mongla Port and the existing rail network in Khulna. With this, Mongla, the second largest port of Bangladesh, gets connected with the broad-gauge railway network. The Maitree Super Thermal Power Project, under an Indian Concessional Financing Scheme loan of 1.6 billion US dollars, is a 1320 MW Super Thermal Power Plant located in Rampal in Khulna Division of Bangladesh. The project has been implemented by the Bangladesh-India Friendship Power Company Limited which is a 50:50 Joint Venture company between India's NTPC Ltd and Bangladesh Power Development Board. These projects will strengthen connectivity and energy security in the region. During the inauguration ceremony, Sheikh Hasina also extended greetings to Prime Minister Modi and the people of India in advance of Diwali. "I would conclude her by conveying warm greetings in advance for the upcoming Diwali. I wish Your Excellency PM Modi and the people of India a very Happy Diwali," the Bangladesh Prime Minister said. Over the last decade, the Bangladesh-India Friendship Dialogue has served as a critical platform for strengthening bilateral relations between the two nations. The theme of this year's Dialogue is 'Fostering a comprehensive and mutually beneficial partnership', BNN News reported. Earlier this March, Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina inaugurated the India-Bangladesh Friendship Pipeline, a cross-border energy pipeline, built at an estimated cost of Rs 377 crore, of which the Bangladesh portion of the pipeline was built at a cost of approx. Rs 285 crore, which has been borne by the Government of India under grant assistance, read Prime Minister's Office press release. The Pipeline has the capacity to transport 1 Million Metric Ton Per Annum (MMTPA) of High-Speed Diesel (HSD). It will supply High-Speed Diesel initially to seven districts in northern Bangladesh. The operation of India- Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment-friendly mode of transporting HSD from India to Bangladesh. Moreover, in September, the 15th Meeting of the Joint Working Group on Trade (JWG) between India and Bangladesh was held in Dhaka, Bangladesh, where the two nations discussed various bilateral issues, including removal of port restrictions, the groundwork for the commencement of the Comprehensive Economic Partnership Agreement (CEPA). The meeting was co-chaired by the Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, Vipul Bansal and Additional Secretary, Ministry of Commerce, Government of Bangladesh, Noor Md. Mahbubul Haq. The Joint Working Group on Trade (JWG) Meetings between India and Bangladesh are held annually to discuss key trade-related issues and "explore opportunities for economic and technical collaboration, promotion, facilitation, expansion and diversification of trade between the two countries on the basis of equality and mutual benefit." Moreover, these meetings play a crucial role in quickly resolving bilateral issues by removing trade barriers, simplifying customs procedures, improvement of infrastructure, logistics, and transit facilities to facilitate smoother cross-border trade.

India, Bangladesh ties: Rail, power sector projects inaugurated by PM Modi and Sheikh Hasina

New Delhi, India's <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> contracted by 12.7 per cent, third month in a row, to USD 34.66 billion in April even as the <keyword id="113688" type="General" weightage="20" keywordseo="trade-deficit" source="Orion">trade deficit</keyword> reduced to a 20-month low of USD 15.24 billion, the government data showed on Monday. The decline in exports is mainly on account of poor demand in India's key destinations -- the Europe and the US -- and it may take some more months for the situation to improve. The demand scenario is "not looking very good as far as Europe is concerned, and the US also we have seen a decline in demand. For the next 2-3 months, I think the demand scenario does not look very optimistic," DGFT (Director General of Foreign Trade) Santosh Kumar Sarangi told reporters here. However, he expressed hope that things would change from September onwards. "There is a possibility that opening up of Chinese economy combined with some boost in demand in the Europe and the US economy from August-September onwards might give a boost to global exports," he said. Imports too declined by about 14 per cent, fifth month in a row, to USD 49.9 billion as against USD 58.06 billion recorded in the same month last year, the data showed. Trade deficit in April last year stood at USD 18.36 billion. The previous lowest level was recorded in August 2021, when the deficit stood at USD 13.81 billion. On imports, Sarangi said that the decline is because of cooling down of commodity prices and reduced demand for products which are considered as discretionary like gems and jewellery. He suggested to diversify into products which have higher export demand, such as electronic goods, oil meals, oil seeds, and agricultural goods. He added that export sectors which may get impacted in the coming months include gems and jewellery, apparel and garments, and some engineering products. In April, export sectors which recorded negative growth included petroleum products, gems and jewellery, engineering goods, chemicals and ready-made garments of all textiles. However, electronic goods, pharma, rice and oil meals registered positive growth. The shipments of electronic goods increased by 26.49 per cent to USD 2.11 billion in the month under review. Under merchandise exports, only 11 of the 30 key sectors exhibited positive growth in April and at imports front, 23 out of 30 key sectors recorded negative growth. Crude oil imports dipped by 13.95 per cent to USD 15.17 billion. Gold imports too contracted by 41.48 per cent to USD 1 billion in April. India's exports to the US in April declined by 17.16 per cent to USD 5.9 billion. Similarly to the UAE it dipped by 22 per cent to USD 2.23 billion in April. The other key export destinations where exports reported negative growth included China, Singapore, Bangladesh, and Germany. Further, the commerce ministry has revised upwards the overall trade figures for 2022-23. According to the ministry's data, exports of goods and services in 2022-23 rose by 14.68 per cent to USD 775.87 billion (earlier it was USD 770 billion) as against USD 676.53 billion in 2021-22. Imports increased by 17.65 per cent to USD 894.19 billion, leaving a trade deficit of USD 118.31 billion in 2022-23. Merchandise exports increased by 6.74 per cent to USD 450.43 billion, while imports rose by 16.47 per cent to USD 714 billion in the last fiscal. Services exports rose 27.86 per cent to USD 325.44 billion, while imports increased by 22.54 per cent to USD 180 billion in the last fiscal. Services exports in April this year were estimated at USD 30.36 billion, as compared to USD 24.05 billion in April 2022. The estimated value of services import in April was USD 16.50 billion as compared to USD 14.06 billion in April 2022.

Exports fall for third consecutive month by 12.7% in April; trade deficit at 20-month low

<ul><li>External Affairs Minister S <keyword id="19920247" type="General" weightage="20" keywordseo="Jaishankar" source="keywords">Jaishankar</keyword> met his G4 counterparts in New York.</li><li>He reaffirmed the commitment to urgent reform of the <keyword id="19896118" type="General" weightage="20" keywordseo="United-Nations" source="keywords" meta.keywordsubtype="org" meta.entityname="United Nations" meta.hostid="261" meta.entityid="United Nations">United Nations</keyword> Security Council.</li><li>The <keyword id="23295228" type="General" weightage="20" keywordseo="G4-group" source="keywords">G4 group</keyword> includes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, Germany, Japan and Brazil.</li></ul>External Affairs Minister S Jaishankar met with his counterparts from Brazil, Germany, and Japan in New York to reaffirm the commitment of the G4 grouping of nations to urgent reform of the United Nations Security Council (UNSC) through text-based negotiations. The G4 countries comprise Brazil, Germany, India and Japan. Jaishankar, who is in the United States on an official visit, met with German Foreign Minister Annalena Baerbock, Japanese Foreign Minister Yoko Kamikawa, and Brazilian Foreign Minister Mauro Vieira on the sidelines of the 79th Session of the United Nations <keyword id="20282473" type="General" weightage="20" keywordseo="General-Assembly" source="keywords">General Assembly</keyword>. <div type="twitter" handle="DrSJaishankar" handlename="DrSJaishankar" favoritecount="0" retweetcount="0" id="1838342963296113025"></div> Jaishankar shared a picture of the meeting on X and wrote, "Glad to join the traditional #G4 <keyword id="23295229" type="General" weightage="20" keywordseo="Foreign-Ministers-Meeting" source="keywords">Foreign Ministers Meeting</keyword> along with colleagues @ABaerbock , @Kamikawa_Yoko and Mauro Vieira in New York today. G4 reaffirmed its commitment to urgent United Nations Security Council reform through text-based negotiations." Jaishankar also held talks with Venezuelan Foreign Minister Yvan Gil, discussing energy, health, and economic cooperation between India and Venezuela. <div type="twitter" handle="DrSJaishankar" handlename="DrSJaishankar" favoritecount="0" retweetcount="0" id="1838351671992188990"></div> "Pleased to meet FM @yvangil of Venezuela today on the sidelines of #UNGA79. Discussed energy, health and economic cooperation, as well as reformed multilateralism," Jaishankar said on X. On Monday, Jaishankar met with Bangladesh Foreign Affairs Advisor Md. Touhid Hossain and discussed a range of issues related to mutual interests between Bangladesh and India. On the sidelines of the 79th United Nations General Assembly (UNGA), the two diplomats discussed a range of issues on strengthening the long-standing ties between the neighbouring nations. The Ministry of Foreign Affairs, Bangladesh, announced the meeting in X, formerly Twitter, emphasising the ongoing partnership between the two countries. The general debate of the 79th session of the General Assembly opens on September 24 and will continue through September 28 and conclude on September 30. Opening amid growing calls for more international cooperation to address challenges such as climate change, poverty and inequality, and tackling the fallout from ongoing conflicts and global health crises, the session will see world leaders heading to New York to deliver their statements in the iconic Assembly Hall. The theme for the general debate of the 79th session of the General Assembly is "Leaving no one behind: acting together for the advancement of peace, sustainable development and human dignity for present and future generations," according to the UN Nations' official statement. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sebi-report-reveals-the-ugly-truth-of-fo-trading-in-india-93-of-retail-traders-incurred-losses/articleshow/113620397.cms">SEBI report reveals the ugly truth of F&amp;O trading in India – 93% of retail traders incurred losses</a> <a href="https://www.businessinsider.in/tech/news/gopro-hero-the-companys-smallest-4k-camera-launched-at-23990/articleshow/113591944.cms">GoPro Hero, the company’s smallest 4K camera launched at ₹23,990</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-and-airtel-lost-subscribers-in-july-after-tariff-hike-bsnl-records-growth/articleshow/113548793.cms">Jio and Airtel lost subscribers in July after tariff hike, BSNL records growth</a>

Jaishankar reaffirms commitment to UNSC reform in meet with G4 counterparts

<ul><li>Mankind Pharma listed at a 20% premium, beating grey market expectations.</li><li>The market capitalisation of the company stands at ₹57,045 crore.</li><li>The grey market had indicated a premium of 10% over the IPO price.</li></ul>After listing at a 20% premium, condom manufacturer Mankind Pharma’s stock ran up 9.5% on Tuesday. In all, its first day’s closing price at ₹1,424, was 32% higher than its issue price. Its issue price was at ₹1,080 per share. Thanks to its stellar debut, Mankind Pharma entered the list of top 100 companies as per market capitalisation, on BSE and NSE. It beat the likes of Canara Bank, UPL, Hero MotoCorp, Zomato to enter the stock exchanges at rank 86, with a marketcap of ₹57,045 crore. The market rally during the day that led to <a href="https://www.businessinsider.in/stock-market/news/mankind-pharma-spicejet-upl-among-stocks-to-watch/articleshow/100076439.cms">Sensex crossing the 62,000 level </a>for the first time since December 2022, also aided the debut. As many as seven companies listed on the exchanges this year, and Mankind Pharma has provided the best listing gains amongst them all. An investor in the IPO would have gained ₹344 per one stock by the end of the day. Beating the grey market The listing gains were above expectations as the grey market indicated a premium of 10% to the IPO price. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The ₹4,326 crore IPO generated good demand from investors, with the issue being subscribed 15.32 times. The qualified institutional buyer portion was subscribed the most at 49.16 times. The portion reserved for retail witnessed weak demand as it was subscribed just 0.92 times, while that of the non-institutional investors was subscribed 3.8 times.The IPO was a complete offer for sale (OFS) of over 4 crore equity shares by the promoters and existing shareholders of the company. The company will not receive any proceeds from the offer. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPOs in 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing day gain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current market price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radiant Cash Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹94 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10.70 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹95.15 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sah Polymers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹65 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹24.25 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹76.01 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divgi TorqTransfer Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹590 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15.15 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹636.40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global Surfaces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹140 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30.90 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹214 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udayshivkumar Infra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1.61 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avalon Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹436 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹38.55 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹355 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE The company manufactures a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. Its wide range of offerings include condoms, pregnancy detection kits, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financials of some famous brands owned by company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic sales (Dec 2022) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% market share </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manforce (condom) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹461 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prega News (pregnancy detection kit) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹184 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">79.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unwanted-72 (emergency contraceptives) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹108 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61.7% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> It has 25 manufacturing facilities across Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh, Maharashtra and Uttarakhand. The company says that after India, its major markets are the US, Bangladesh, Sri Lanka and Nepal. Any developments in the pharmaceutical industry in these regions could impact on its business operations. The company is also looking to acquire brands and diversify its therapeutic portfolio. “We aim to deepen our presence in our existing markets and facilitate our entry into new markets. We intend to strategically acquire brands and companies across key markets as well as explore in-licensing and co-development opportunities with other companies to diversify our therapeutic portfolio,” the company said in its DRHP. Its products are sold in 20 countries, including the US, Latin America, Southeast Asia, Africa, the Middle East and the Commonwealth of Independent States (CIS). Mankind Pharma’s profitability has grown over 37% in the last three financial years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,781 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,452 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,214 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,293 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,865 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,056 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/fy23-scorecard-tvs-motor-fares-better-than-bajaj-auto-hero-motocorp-on-profits-and-margins/articleshow/100082560.cms">FY23 Scorecard: TVS Motor fares better than Bajaj Auto, Hero MotoCorp on profits and margins</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rail-vikas-nigam-marks-a-strong-journey-in-2023-share-price-of-68-to-140/slidelist/100069014.cms">From ₹68 to ₹140, this multibagger stock marks a strong journey in 2023</a>

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Bangladesh garment industry faces crisis amid political unrest and floods

PTI

India, Bangladesh ties: Rail, power sector projects inaugurated by PM Modi and Sheikh Hasina

ANI

Exports fall for third consecutive month by 12.7% in April; trade deficit at 20-month low

PTI

Jaishankar reaffirms commitment to UNSC reform in meet with G4 counterparts

BI India Bureau

Mankind Pharma stock runs up in trade after listing at 20% premium

Bhakti Makwana

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