The after effects of CAG report are putting many stocks on rout. Jindal Steel and Power is one of them and its shares have hit a 3 years low today. The NSE shares touched a low of Rs.358.85/- and closed at Rs.359.15/-
Jindal Steel and Power Ltd NSE shares had fall 6.5% today hitting it's earlier lowest, of previous two sessions, since May 2009. It’s 3rd day in a row that Jindal shares have slumped. It seems investors are holding to invest in companies who have been named in the Comptroller and Audit General report which was published earlier this month on August 17.
Not only Jindal, but the entire metal index got slashed today. Another reason for the dip accounts to the slowing demand due to low growth rate.