JSPL dips ahead of IMG report

Jindal Steel and Power Limited (JSPL) has dipped over 5% at Rs 333 ahead of the Inter-Ministerial Group (IMG) report on coal block allocation.

“The IMG on coal block allocation will submit its report to Coal Ministry of India on Monday as its three-day review of 29 private sector allottees, including Jindal Steel and Power and others in which relatives of politicians held positions, have concluded,” reports suggest.

After submitting the report to the Coal Ministry on Monday, it will be forwarded to the Prime Minister's Office before September 15, added report. The stock opened at Rs 340 and has seen around 650,000 shares changing hands on the counter in morning trades on the NSE and BSE.