INSUBCONTINENT EXCLUSIVE:
Food delivery firm Zomato Ltd
said the heatwave was one of the factors that led to sequentially lower margins
devastating heatwave gripped most parts of the country including its financial hub Mumbai and the capital city of New Delhi
This affected footfalls at retailers, hindered labor productivity at construction firms and made it more difficult for lenders to collect
stock market rally, said Jonathan Garner, chief Asia and emerging market equity strategist at Morgan Stanley.
Of the 46 NSE Nifty 50 Index
members that have posted results so far, about half missed the average analyst estimate
theme in many earnings transcripts, high raw-material costs driven by geopolitical tensions in the Middle East and disruptions to shipping
routes were also significant factors.
Food delivery firm Zomato Ltd
said the heatwave was one of the factors that led to sequentially lower margins
Infrastructure giant Larsen - Toubro Ltd
said it tried mitigating the heat risk by having worker shifts early in the morning and late in the afternoon.
Worsening climate conditions
have yielded some winners too
and stabilizer manufacturer V-Guard Industries Ltd
benefited from summer-led demand
Power generators including state-owned NTPC Ltd
situation will only get tougher as extreme weather incidents are expected to surge
