Jindal Steel at 4-yr low on CBI notice for coal scam probe
In the latest on the Coal scam, the Central Bureau of Investigation (CBI) has sent notice to four Jindal group companies, including JSPL, to join the probe, reports CNBC-TV18 quoting sources.
Jindal Steel & Power (JSPL) shares slumped nearly 12 percent to touch four-year low of Rs 196 Friday. In regards to the Coal scam, the Central Bureau of Investigation (CBI) has sent notice to four Jindal group companies, including JSPL, to join the probe, reports CNBC-TV18 quoting sources.
Other three Jindal group companies are Gagan Sponge, Jindal Realty and ND Exim.
It is learnt that the CBI has received documents from four Jindal group companies in response.
Earlier last week, the CBI filed FIR against the Jindal Group in the coal scam. The FIR names Congress MP Naveen Jindal and former Minister of State for Coal Dasari Narayan Rao.
The FIR has accused Jindal and his company Jindal Power and Steel of misrepresentation of networth and concealing previous allotment. They are also charged with cheating and forgery.
At 14:34 hours IST, the stock was quoting at Rs 200.20, down 9.88 percent amid hefty volumes on the Bombay Stock Exchange.
Trading volumes increased 239 percent to 25,25,939 equity shares as compared to its five-day average of 7,45,094 shares.