JSW Steel shares fall 2% after CBI enquiry on officials

Shares of JSW Steel ended with a loss of 2 per cent in the backdrop of the CBI registering a Preliminary Enquiry (PE) against unknown officials of the company over alleged diversion of forest land for a mining project in Jharkhand.
JSW Steel's scrip ended 2.09 per cent lower at Rs 1,208.95 on the BSE. In intra-day, the stock fell 4.63 per cent to Rs 1,180.
At the NSE, it slipped 1.09 per cent to end at Rs 1,220.
The CBI had yesterday registered a PE against unknown officials of JSW Steel Private Limited and the Ministry of Environment and Forests over alleged diversion of forest land for a mining project in Jharkhand.

Sources in the CBI said the clearance for the project for mining in Ankua reserve forest was given in 2013.
The allegation made by the CBI in the PE was that unknown officials of JSW and the Ministry of Environment and Forests entered into a criminal conspiracy for getting approval for this mining activity.
A JSW spokesperson, when asked to comment on the CBI move, had said yesterday, "We are not aware of any such move nor have we received any official communication to this effect.