Jindal Steel gains on land allotment in Bolivia

MUMBAI: Shares of Jindal Steel and Power gained momentum after the government of Republic of Bolivia provided additional 3000 acres of land to the company for setting up a steel plant.

Jindal Steel, Bolivia, a subsidiary of JSPL, has secured the land to start $2.1 billion steel and power plant in Bolivia. The company has resumed activities to develop the El Mutun iron ore deposit and steel plant in Bolivia’s Santa Cruz area.

At 12:23 pm, the stock was at Rs 709.70, up Rs 20.35 or 2.95 per cent on the NSE. It touched a high of Rs 710 and low of Rs 690.55 in trade so far.