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Here are the Indian companies which have been impacted by protests in China

Here are the Indian companies which have been impacted by protests in China
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By Nishtha Pandey   | Asmita Pant  Dec 1, 2022 3:45:25 PM IST (Updated)

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China has been witnessing large-scale protests over its strict COVID-19 restrictions that are believed to have hampered rescue operations in a fire incident that killed ten in Xinjiang's Ürümqi city - parts of which had been under lockdown for 100 days. While conditions in China are unrest here is a list of some Indian companies which have exposure in China and can see an impact.

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1. Gland Pharma | The shares of the pharma company jumped 9.3 percent after Bloomberg reported that billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical Group Co is considering a sale of the Indian drugmaker after receiving interest from potential buyers. However later, Gland Pharma clarified that the company is not aware of any such development.

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2. Tata Motors Ltd | China is a key market for Tata Motors' UK-unit Jaguar Land Rover. During the September quarter, China sales accounted for 31 percent of the overall JLR segment, including the China JV. However, the country is currently battling record COVID cases and strong protests against the government. The shares of the automotive company fell 0.8 percent on Tuesday.

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3. Voltas Ltd | Indian companies depend on China for 10-20 percent of AC components like compressors and controllers. The shares of the AC company fell as much as 1.8 percent on Tuesday.

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4. Caplin Point Laboratories | According to the company, the China accounts for 40 percent of its total exports. The shares fell 1.8 percent on Tuesday.

Aurobindo Pharma
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5. Aurobindo Pharma | The company procures around 55percent of the raw material from China to meet its requirement of APIs and excipients production. Shares of the pharmaceutical giant closed at Rs 466 a unit, down by 0.21 percent from the previous close on the BSE.

VIP Industries
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6. VIP Industries | VIP Industries manufactures luggage and travel accessories in India. Around 50 percent of the company's manufacturing is done in China. Chinese suppliers account for a majority of VIP's revenue from soft luggage. Shares of VIP closed at Rs 728 a unit, down by 0.4 percent, from the previous close on the BSE.

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7 Dr Reddys Laboratories | The Hyderabad based pharma company operates in China through a joint venture with the Rotam Group of Canada. Shares closed rising 1.16 percent on Tuesday.

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