Hindalco shares slump over 5.6%

Shares of Hindalco Industries today plunged over 5.6 per cent amid fresh concerns related to the case of Talabira II coal block allocation to the company.
Hindalco's stock tumbled 5.67 per cent to settle at Rs 144.70 on the BSE. In the intra-day trade, it had lost 7.49 per cent to a low of Rs 141.90.
At the NSE, it crashed 5.19 per cent to close at Rs 145.25.
On the volume front, 25.37 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.
CBI was today told by a trial court to record statements of the former Prime Minister Manmohan Singh in the case of Talabira II coal block allocation to Hindalco, when he was also Coal Minister in 2005.

Sending the matter back to CBI for further investigation after it had filed a closure report in the case, Special Judge Bharat Parashar said it would be "appropriate" that the then Coal Minister be "first examined" regarding various aspects of the matter.

The case pertains to allocation of Talabira II coal block in Orissa to Hindalco.
The CBI had earlier lodged an FIR against Kumar Mangalam Birla, former Coal Secretary P C Parakh, Hindalco Industries and other unknown persons and officials for the offence under section 120-B (criminal conspiracy) of the IPC and under provisions of the Prevention of Corruption Act.

The CBI, however, had later filed a closure report in the case on August 27 this year opining that no criminal offence was committed by any of the persons involved in the entire process of allocation of Talabira-II coal block to Hindalco.