Hyderabad firms take it on the chin

Scrips of Hyderabad-based companies on Tuesday plunged more than the indices on the bourses after the N Chandrababu Naidu government's defeat in the Andhra Pradesh Assembly elections.

Stocks like Dr Reddy's Laboratories, Divi's Laboratories and Aurobindo Pharma lost 4.95 per cent, 3.96 per cent and 5.99 per cent, respectively, on the National Stock Exchange (NSE), more than the loss of the exchange's index, Nifty, which fell by 3.94 per cent. The stock of Satyam Computers witnessed a loss of 2.58 per cent on the NSE.

The Dr Reddy's scrip closed today at Rs 840.40 against the overnight closing of Rs 884.15 on the NSE while the Divi's Laboratories scrip came down to Rs 1460 from Rs 1520.20. Satyam fell to Rs 296.90 from Rs 304.75 and the Aurobindo Pharma scrip fell to Rs 395.65 from Rs 420.85.