Govt may encash bank guarantee in coal blocks; GVK falls

GVK Power and Infrastructure fell nearly 9% intraday on Thursday as CNBC-TV18 reported that the government may encash bank guarantees in coal blocks given to the company.

September 20, 2012 / 12:34 IST

GVK Power and Infrastructure fell nearly 9% intraday on Thursday as CNBC-TV18 reported that the government may encash bank guarantees in coal blocks given to the company.

The report says, "The inter ministerial group has recommended forfeiting of bank guarantee in case of Seregarha block allotted to Arcelor Mittal and GVK Power."

At 12:12 hours IST, the share was trading at Rs 13.02, down 6.53% amid high volumes.

first published: Sep 20, 2012 12:29 pm

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