Billionaire Sajjan Jindal's JSW Energy Ltd has agreed to buy a 1,000 megawatt power plant from his brother's heavily indebted Jindal Steel and Power Ltd in a deal valued at up to $976 million, the companies said on Wednesday.
According to a report in Financial Express newspaper, the company has also reduced employee salaries by 10 per cent in order to reduce cost. Furthermore, the salary disbursements to employees are also being delayed.
Jindal Steel and Power (JSPL) share price fall over 2 per cent in the early trade on Monday after the company on Saturday reported a consolidated net loss of Rs 617.94 crore for the quarter ended September 2015
Jindal Steel and Power (JSPL) shares gained over 5 per cent intraday on Tuesday, extending its rally for the third straight session, on hopes that the company is technically qualified for Bhaskarpara, Chitarpur and Jamkhani c
While both CEC and the state govt had alleged excess production by JSPL between 2003 and 2009, the company has asked the SC to reject the panel’s recommendations, saying the report suffers from complete and abject non-appli