Jindal Steel & Power hits over 2-year low; tanks 17% in two days

In the past three months, the stock has underperformed the market by falling 44 per cent, as compared to a 3 per cent decline in the S&P BSE Sensex.

Shares of Jindal Steel & Power hit an over two-year low at Rs 95, down 7 per cent on Thursday. The stock has plunged 17 per cent in the last two sessions on the BSE, on rumors of payment default, which company categorically rejected. The stock was trading at its lowest level since February 2, 2017, when it touched a low of Rs 93 in the intra-day trade.

“The Company wishes to clarify that all speculations/rumors with respect to payment default are baseless and false in nature. Investors are advised to treat such news as fake news,” JSPL said