Jindal Steel & Power Ltd plunged a little over 12 per cent in trade on Friday, after media reports suggested that the government has initiated an enquiry against NaveenJindal-led company.
According to a PTI report, the company is allegedly selling coal from its captive blocks in Chhattisgarh.
At 12:30 p.m.; Jindal Steel & Power company recouped some of the losses and was trading 6.4 per cent lower at Rs 227.95. It has hit a low of Rs 236.05 and a high of Rs 246.50 in trade today.
"The coal ministry has formed an inter-ministerial committee headed by Advisor coal and comprising members from power and steel ministries to probe misuse of coal by JSPL from its blocks in Chhattisgarh," said the PTI report.
A top coal ministry official said the probe has been initiated after complaints from several sections of the society alleging illegal sale of coal in Chhattisgarh by the group.
Jindal Power & Steel Ltd has refuted the charges, said the PTI report.
"The coal from all our captive mines are used in respective end use plants. There is no diversion of any coal from any mine whatsoever. The allegations are completely baseless," the report added quoting company's director external affairs Manu Kapoor.
According to a PTI report, the company is allegedly selling coal from its captive blocks in Chhattisgarh.
At 12:30 p.m.; Jindal Steel & Power company recouped some of the losses and was trading 6.4 per cent lower at Rs 227.95. It has hit a low of Rs 236.05 and a high of Rs 246.50 in trade today.
"The coal ministry has formed an inter-ministerial committee headed by Advisor coal and comprising members from power and steel ministries to probe misuse of coal by JSPL from its blocks in Chhattisgarh," said the PTI report.
A top coal ministry official said the probe has been initiated after complaints from several sections of the society alleging illegal sale of coal in Chhattisgarh by the group.
Jindal Power & Steel Ltd has refuted the charges, said the PTI report.
"The coal from all our captive mines are used in respective end use plants. There is no diversion of any coal from any mine whatsoever. The allegations are completely baseless," the report added quoting company's director external affairs Manu Kapoor.
No comments:
Post a Comment