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Shares of Tata Consultancy Services slump as India floods stall work

The Mumbai- based company, which in October predicted weaker growth in the second half of the fiscal year ending March, had to struggle with the worst flooding in a century in the southern Indian city of Chennai, where it has 65,000 employees.


SHARES of Tata Consultancy Services Ltd headed for a 19-month low after sales fell short of estimates in a quarter marked by seasonal holidays and floods that stalled work at a key development centre in India.

The stock fell 1.8 per cent to 2,286.10 rupees as at 9.49am in...