Jindal Steel extends losses after Coal Scam report

Extending the yesterday's losses, Jindal Steel and Power Limited, an Indian steel and energy company today also plummeted 2.46 per cent in the early trade on the Bombay Stock Exchange (BSE) following allegations of huge losses to government in coal block allocation.

An initial audit report estimated Rs 10.67 lakh crore losses to the exchequer on account of allotment of coal blocks during 2004 to 2009 without auction.

Shares of Jindal Steel and Power Limited were currently trading at Rs 53 a piece, down 1.38 per cent.

In a similar fashion, shares of the company were quoting at Rs 539.20 a piece, down 1.36 per cent on the National Stock Exchange.

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