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Last Updated : Aug 16, 2018 10:47 AM IST | Source: Moneycontrol.com

Kerala-based companies trade mixed amid worsening flood situation

Muthoot Finance, Manappuram Finance, and Kitex slipped up to 2 percent in morning trade on Thursday amid worsening flood situation in the State which has already resulted in nearly 70 deaths.

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Kerela-based companies such as Muthoot Finance, Manappuram Finance, and Kitex slipped up to 2 percent in morning trade on Thursday amid worsening flood situation in the State which has already resulted in nearly 70 deaths.

Muthoot Finance was trading 0.68 percent, Manappuram Finance was down by 1.01 percent while Kitex Garments was trading 1.7 percent lower.

However, now all Kerala-based companies are under pressure. Federal Bank rose 0.6 percent, South Indian Bank gained 1.4 percent while Kakatiya Cement was up 0.8 percent.

Media reports suggest that a red alert was sounded in 11 of the 14 Kerala districts, including Idukki, Kozhikode, Wayanad, Malappuram, Pathanamthitta, Kannur and Ernakulam, by Wednesday afternoon, it was extended across the state by the evening hours.

The state government declared a holiday on Thursday in all educational institutions. Cochin airport was shut till Saturday after water flooded the complex.

“In a first, the sluices of 33 dams across Kerala have been opened, following incessant rain since late Tuesday. More rain has been forecast till Saturday,” IANS said in a report.
First Published on Aug 16, 2018 10:41 am
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