The government has cancelled 4 of the 9 blocks that were under review.
Jindal steel is the biggest loser, as it had won 3 of the cancelled 4. The government will probably conduct a re-auction of those mines.
This will be a huge setback, as Jindal steel doesn't have any backup plans as of now.
I had advised a strangle. it has lost more than 7% since then. Jindal will open with a gap down on Monday.
Jindal steel is the biggest loser, as it had won 3 of the cancelled 4. The government will probably conduct a re-auction of those mines.
This will be a huge setback, as Jindal steel doesn't have any backup plans as of now.
I had advised a strangle. it has lost more than 7% since then. Jindal will open with a gap down on Monday.