TAKE impacted by Chennai floods
By
Research Desk
about 8 years ago
TAKE Solutions issued a statement yesterday that it has been impacted by the Chennai flooding. The company stated that due to operations being shut down for a week, there were delays in client delivery. And as TAKE’s contracts are mainly, fixed, some major orders will be slipping into the next quarter. The company has also suffered asset losses and it is talking to the insurance companies to assess material damages and claims .
The company has said that this one-time impact will be felt on the earnings of the company ad it hopes to recoup before end of FY16.
Intra day, the stock price slipped almost 8% to Rs.167 levels and it is currently at Rs.169 levels, down over 6.5%.