Monnet Ispat & Energy off day’s lows

MUMBAI: Shares of Monnet Ispat & Energy shed most of the intraday losses on Thursday after sources told ET Now that the company doesn’t have any iron ore mining lease in Jharkhand.

According to sources, the company had applied for mining lease earlier, but it was not allotted by the government.
The stock had tanked 20 per cent after reports that the Supreme Court had cancelled iron ore mine leases of Monnet Ispat & five other companies in Jharkhand.

At 11:00 am, the stock was at Rs 350.45, down 9.29 per cent, on the BSE. It touched a high of Rs 389.70 and a low of Rs 308.70 in trade today.