In a desperate bid, JSPL highlighted high debt levels and impact on daily operations and offered to submit either bank guarantees or monthly payments of Rs 100 crore.
A twin blow coming in for Jindal Steel and Power ( JSPL ), one from the Supreme Court and the other from the government, as the company had moved the Supreme Court seeking for extension of the deadline for payment of coal penalty of Rs 1,800 crore.
The deadline expires on the December 31. In a desperate bid, JSPL highlighted high debt levels and impact on daily operations and offered to submit either bank guarantees or monthly payments of Rs 100 crore. The apex court has dismissed the plea.
Adding further pain was a clarification by the government, during the court proceedings, that as per the coal ordinance, failure to pay penalty by December 31 will result in ineligibility to participate in the coal block auctions.
Jindal Steel stock price
On December 10, 2014, Jindal Steel & Power closed at Rs 138.70, up Rs 9.60, or 7.44 percent. The 52-week high of the share was Rs 350.00 and the 52-week low was Rs 125.05.
The company's trailing 12-month (TTM) EPS was at Rs 15.19 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 9.13. The latest book value of the company is Rs 142.79 per share. At current value, the price-to-book value of the company is 0.97.
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