JSPL shares shoot up on CCI talk

Jindal Steel and Power (JSPL) shares shot up on Friday over reports that Competition Commi-ssion of India (CCI) has given a clean chit to the company on allegations of cartelisation.

Shares of JSPL had surged 15.3 per cent intraday Friday on reports of getting clean chit from CCI in coal auction cartelisation case. It closed 7.23 per cent up on BSE.

The government in March year had rejected the company’s bids for three coal blocks, including Gare Palma IV/2 and 3 and Tara, which it had won in the first two rounds of coal auctions.

JSPL had challenged the cancellation by filing a case against government’s decision of rejecting bids for the coal blocks. The matter is currently sub-judice.