1. Jindal Steel share price gain on power assets sale buzz

Jindal Steel share price gain on power assets sale buzz

Jindal Steel and Power Ltd (JSPL) share price soared as much as 7 per cent on Wednesday after reports that the steel company is exploring partial or complete sale of power assets.

By: | New Delhi | Updated: March 2, 2016 4:04 PM
Jindal steel share price, bse sensex Jindal Steel and Power Ltd (JSPL) share price soared as much as 7 per cent on Wednesday after reports that the steel company is exploring partial or complete sale of power assets.

Jindal Steel and Power Ltd (JSPL) share price soared as much as 7 per cent on Wednesday after reports that the steel company is exploring partial or complete sale of power assets.

At 1.33 pm, shares of JSPL were trading 4.02 per cent up at Rs 58.20. The scrip opened at Rs 56.05 and has touched a high and low of Rs 59.90 and Rs 56.05, respectively, in trade so far.

Later, the scrip closed 2.68 per cent up at Rs 57.45.

According to the report, the company aimed to get about Rs 20,000 crore from the the sale.

For the quarter ended December 2015, the company posted consolidated net loss of Rs 573.48 crore against net loss of Rs 1618.78 crore in the corresponding quarter a year ago.

JSPL long-term debt stood at Rs 34,975.65 crore at the end of September quarter.

(With inputs from Reuters)

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