Jindal Steel slumps for 3rd day on CAG worries

Shares in Jindal Steel and Power fall 6.5%, hitting earlier its lowest since May 28, 2009, after already slumping 7.4% in the previous two sessions.

August 28, 2012 / 16:18 IST

26 Aug, 2025 12:21

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Shares in Jindal Steel and Power fall 6.5%, hitting earlier its lowest since May 28, 2009, after already slumping 7.4% in the previous two sessions.

Jindal share falls track a slump in metals stocks, while also reflecting continued worries about the impact over the recent report from the Comptroller and Auditor General (CAG) on the government's coal concessions.

Investors are wary of holding exposure to companies mentioned in the auditor's report published on August 17 that questioned the government's practice of awarding coal mining concessions to companies without competitive bidding.

first published: Aug 28, 2012 02:56 pm

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