Shares of Chennai-Based Companies Hit Amid Heavy Flooding

Shares of Chennai-based companies fell sharply on Wednesday as large scale floods paralysed operations across many companies. Chennai is a major auto manufacturing and IT outsourcing hub for companies including TVS Motor, Infosys, Tata Consultancy Services and Cognizant Technology Solutions. Two-wheeler manufacturer TVS Motor closed 5 per cent lower at Rs 289.20 as against a 0.3 per cent drop in the broader Nifty. In a statement to...