Shares of Jindal Steel & Power Ltd slumped over eight per cent today following reports that the CBI has started a fresh inquiry against unknown officials of the company for alleged diversion of forest land in Jharkhand for mining purposes.
JSPL's stock tumbled eight per cent to Rs 152.50 on the BSE.
At the NSE, the scrip was down 8.17 per cent to Rs 152.25.
CBI has started a fresh inquiry against unknown officials of Jindal Steel and Power Limited for alleged diversion of forest land in Jharkhand for mining purpose in collusion with Environment Ministry officials.
CBI sources had on Friday said the inquiry has been initiated against unknown officials of JSPL and Environment Ministry for alleged irregularities in diversion of Saranda forest land in Jharkhand between 2007-13.
They had said nearly 512.43 hectares of ecologically sensitive Saranda forest in West Singhbhum district of Jharkhand were diverted for Ghatkuri Iron Ore mining lease project in favour of JSPL.
