JSPL to see relief rally on CCI decision: Religare Cap

The Competition Commission of India (CCI) on Thursday gave a clean chit to Jindal Steel & Power (JSPL) on allegations of cartelisation saying it hasn't found enough evidence to support the same.

Talking on the above development Pritesh Jani, Director-Institutional Research, Religare Capital Markets says over the long-term surplus of coal will help the company but over the near-term it will witness relief rally because the fuandamentals are still a challenge.

He also said that cartelisation was not the argument that was presented by government of India but the case was that their bids were very low.

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