Friday, 31 March 2017

Jindal Steel jumps over 4% on pref allotment to promoters

Shares of Jindal Steel & Power soared over 4 per cent on the Bombay Stock Exchange after the company said that its board approved issue of 4.80 crore convertible warrants to Opelina Finance and Investments, a promoter group entity on preferential basis, subject to shareholders’ approval and other regulatory approvals. Following the announcement, shares of company gained as much as 4.14 per cent to hit an intra-day high of Rs 123.85 apiece on Bombay Stock Exchange.

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