Rs.15,000 cr loss due to Tamil Nadu floods

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Chennai devastating floods and torrential rains have caused an indented loss of over 15,000 crore rupees. Private companies across sectors were shut on Thursday following a state advisory. IT companies have shifted some of their staff for business continuity and have remained shut on Thursday also. Other IT companies such as Infosys, Accenture, Cognizant, HP Global Soft, Accenture, etc also remained closed.According to Nasscom, major IT companies have already taken precautionary measures to avoided troubles and have asked employees to stay put in offices.

The automobile industry has also taken a big hit as Chennai is its second biggest center, with several companies, including Hyundai, Renault, BMW, Ford, Yamaha, Royal Enfield, having their manufacturing plants in the city.Automobile firms, including Hyundai, Ford, Renault and tyre maker Apollo Tyres have also suspended operations at their respective plants in and around the city. According to a statement issued by Hyundai, resumption of operations will depend on the emerging situation.

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