SAIL jumps nearly 3% on reports of exiting Sindri project

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SAIL jumps nearly 3% on reports of exiting Sindri project
Shares of state-controlled Steel Authority of India Limited (SAIL) spurted nearly 3 per cent on Bombay Stock Exchange (BSE) on reports that company may to exit the Rs 35,000-crore Sindri project.

According to ET report, the company is likely to exit the Rs 35,000-crore revival project of the Sindri fertiliser plant in Jharkhand due to inordinate delay in land acquisition.

Tracking the news, shares of company rose as much as 2.68 per cent to trade at Rs 95.60 a piece on the BSE.

In a similar fashion, shares of the company rose 2.63 per cent to Rs 95.55 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 25,314.87, up 283.55 points or 1.13 per cent at 12.10 hours.

Dion Global Solutions

Story first published: Tuesday, June 24, 2014, 12:30 [IST]
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