JSPL shares tank over 5% after Q4 earnings

Shares of Jindal Steel and Power (JSPL) today plunged over 5 per cent after the company reported a consolidated loss of Rs 100 crore in the quarter ended on March 31, 2017.
The stock slumped 5.35 per cent to settle at Rs 107.85 on BSE. During the day, it dropped 9.6 per cent to Rs 103.
At NSE, shares of the company tanked 4.92 per cent to close at Rs 108.15.
The company's market valuation fell by Rs 557.46 crore to Rs 9,868.54 crore.
On the volume front, 58 lakh shares of the company were traded on BSE and more than 3 crore shares changed hands on NSE during the day.

JSPL today said its consolidated loss narrowed to Rs 100 crore in the quarter ended on March 31, 2017, on the back of higher income.
The company had posted consolidated a loss of Rs 635.8 crore in the year-ago period, JSPL said in a filing to BSE.
JSPL's consolidated total income during January-March period increased to Rs 6,765.07 crore, over Rs 5,549.84 crore in the corresponding quarter of previous fiscal.