TVS stock plummets over 6 pc on supply chain disruption

Shares of TVS Motor Company slumped over 6 per cent after the firm said the supply chain disruption due to coronavirus outbreak in China has affected 10 per cent of its planned production for this month.

On the BSE, the stock lost 6.34 per cent to a low of Rs 409.75 in early hours of the trading session. Later, it was trading at Rs 430.90, down 1.51 per cent over previous close.

On the NSE, it fell 6.64 per cent to hit a low of Rs 409.45. Later, it was trading lower by 1.76 per cent to Rs 430.90.

The Chennai-based company on Monday said the coronavirus outbreak has impacted the supply of certain components thereby affecting about 10 per cent of its planned production for February.

The novel coronavirus(COVID-19) has led to an impact on the supply of certain components for the production of BS-VI vehicles, TVS Motor Co said in a regulatory filing.