Chennai-based companies stocks slipped sharply on Wednesday as heavy rains in the city affected normal life, shut down factories and paralysed the airport.
Below are the 10 companies which were hit the most due to rains in the city.
Infosys: Stocks of the IT major closed 1.53 per cent down at Rs 1,060.20 after companies with a presence in Tamil Nadu lost ground due to heavy rains over the past two weeks that caused widespread flooding.
TVS Motor Company: Shares of the company fell as much as 6 per cent intraday on Wednesday. The company on Monday said, incessant rains for the past three weeks in Chennai have had an adverse effect on company’s production in November. The company suffered sales loss of approximately 15,000 units due to inclement weather. It reported 2.43 per cent increase in total sales at 2,25,401 units in November. The share price of the 2-wheeler major closed 4.87 per cent down at Rs 289.20.
Ashok Leyland: Shares in commercial vehicle maker Ashok Leyland fell as much as 1.34 per cent after Chennai rains on Wednesday. Ashok Leyland’s Ennore plant in Chennai accounts for 40 per cent of its production. Later, the scrip closed 0.54 per cent down at Rs 92.85.
Natco Pharma: Drug firm Natco Pharma on Wednesday said its active pharmaceuticals ingredient plant at Chennai has suspended operations due to flooding caused by rains. The share price Natco fell 1.41 per cent to Rs 516.85 on Wednesday.
Sundaram-Clayton: The share price of Sundaram-Clayton, a Chennai based TVS Group company, fell as much as 5 per cent on Wednesday. The scrip closed 4.91 per cent down at Rs 2,092.
Chennai Petroleum Corporation: The company may shut one of the three crude units at its 210,000 barrels per day (bpd) Manali refinery in the flood-hit Tamil Nadu, Managing Director Gautam Roy told Reuters on Wednesday. The share price of the company closed 0.93 per cent down at Rs 201.45.
India Cements: The share price of Chennai-based company closed 2.43 per cent down at Rs 88.45.
Rane Holdings: The share price of the auto component company slid 2.50 per cent to Rs 594.75 on Wednesday.
Madras Fertilizers: The company is engaged in the manufacture of ammonia, urea and complex fertilizers at Manali, Chennai. The share price of the company declined 6.35 per cent to Rs 16.95.
Tamil Nadu Newsprint and Papers: The company is the largest bagasse, an agricultural residue, based paper unit in India. The products are being marketed throughout the country and also being exported to 30 countries around the world. The company’s manufacturing facility is located at Kagithapuram in Karur District of Tamil Nadu. The share price of the company fell 1.48 per cent to Rs 232.60 on Wednesday.