Jindal Steel Extends Drop as Panel Scraps Coal Project Approval
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Jindal Steel & Power Ltd., India’s biggest steel producer by market value, fell to its lowest price in more than three months after a court-appointed panel scrapped the approval for its coal mining project.
The shares fell for the second day, declining 4.3 percent to 484.55 rupees, the lowest level since Jan. 9, at the close in Mumbai. The stock has risen 7 percent this year, compared with an 11 percent gain in the benchmark Sensitive Index.