Jindal Steel rallies on court's remarks in coal block case
Source: IRIS | 27 Mar, 2015, 01.59PM
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Rating: NAN / 5 stars. |
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Jindal Steel & Power (JSPL), an Indian steel and energy company, witnessed a sharp rise in share price on Friday on the back of Delhi High Court's remarks in case filed by the company against coal block cancellation. The Delhi High Court said that government's decision to cancel the bid of the company for two Chhattisgarh coal mines by annulling the tender process and allotting them to Coal India (CIL) is ''prima facie wrong''. Shares of the company are trading at Rs 157, up Rs 6.8, or 4.53% at the Bombay Stock Exchange (BSE) on Friday at 1:51 p.m.
The scrip has touched an intra-day high of Rs 160 and low of Rs 154.50. The total volume of shares traded at the BSE is 861,584.
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