Jindal Steel & Power stock zooms 28%

The stock has surged sharply after the company won the Gare Palma IV/2 & 3 coal blocks.

Feb 19, 2015 02:02 IST India Infoline News Service

Jindal Steel & Power zoomed 23% in intra-day deals to a high of Rs.190 in mid-noon on TV reports that the company has won the Gare Palma IV/2 & 3 coal blocks for Rs. 108 per tonne in the e-auctions for coal blocks.

The stock continues to trade near the day's high, and is now up 28 per cent at Rs. 198. The counter has seen huge volume of around 58.73 million shares as against the two-week daily average volume of around 726,000 shares on the BSE.

Earlier in the day, the stock had shed nearly 5 per cent at Rs. 148.

Meanwhile, the Sensex is now down 127 points at 29,193.

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