JSPL tanks 20 pc as CBI registers case against company

MUMBAI: Shares of Jindal Steel & Power plunged to a 4-year low after the Central Bureau of Investigation registered a fresh case against the company in the coal scam, say reports.

At 11:20 a.m.; the stock was at 215.85, down 19.11 per cent, on the BSE. IT touched a high of Rs 266.70 and a low of Rs 202 in trade today.

Former Minister of State for Coal Dasari Narayan Rao and Member of Parliament Naveen Jindal are named as accused in the FIR. The investigative agency will conduct searches in 15 places including Delhi & Hyderabad.

According to reports, Jindal Realty and Gagan Sponge are other two companies named in the FIR.