Jindal Steel and Power stock falls 2.3%: Power segment blip spoils Q4 show

Disappointment over the power segment’s performance, sequential rise in consolidated loss and some recovery in pallet prices saw the Jindal Steel and Power (JSPL) stock fall 2.3 per cent to Rs 255.50 after the announcement of March quarter results on Wednesday. 

However, with a better than expected show in its steel business, the company recouped most of the losses over the past two trading sessions. 

Expectation of better performance from the power segment was building in the backdrop of rising merchant (short-term) power tariffs and demand of late. However, lower coal availability played spoilsport, leading to a decline in power