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JSPL Shares Slump Over 7 Per cent on CBI Charges

By Super

Mumbai, Apr 30 (PTI) Shares of Jindal Steel & Power slumped over 7 per cent today after CBI filed a chargesheet against company's owner Naveen Jindal in connection with a coal block allocation scam case.

The stock tumbled 7.28 per cent to Rs 135 on the BSE. At the NSE, it slipped 7.37 per cent to Rs 135.

JSPL Shares Slump Over 7 Per cent on CBI Charges

The CBI filed the chargesheet against the company's owner and Congress leader Naveen Jindal, ex-Minister of State for Coal Dasari Narayan Rao, former Jharkhand Chief Minister Madhu Koda and 12 others in connection with the Amarkonda Murgadangal coal block allocation scam case.

Jindal Steel yesterday refuted allegations made by CBI in its chargesheet about allocation of a coal block and said the company will be availing appropriate remedy in accordance with the law.

In a statement issued after the CBI filed the chargesheet against the company, spokesperson for Jindal Steel and Power said, "We are shocked to know from the media about filing of a charge sheet by CBI with respect to allocation of a coal block."

The company claimed that the allocation was made to it on merit.

"During the course of the investigation the company and its officials fully co-operated with the authorities, and whenever asked, explained and provided all the supporting documents," it said.

Refuting all the allegations made against the company, the spokesperson said: "We will be availing appropriate remedy in accordance with law.

We have full faith in our judiciary and are confident to come out clean during the process." PTI

Read more about: jindal steel amp power
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