Zee News plunges 3% on JSPL claims

Zee News plunged 3% on Friday after Naveen Jindal, chairman, Jindal Steel and Power (JSPL) claimed that the company has tried to blackmail his firm by demanding Rs 1 billion for not airing stories against JSPL on coal block allocation.

To support his claims, Jindal presented video tape of conversation that has allegedly taken place between officals of his firm and Zee News. Shares ofthe companyare trading at Rs 14.11, down Rs 0.52, or 3.55% at the Bombay Stock Exchange (BSE) on Friday at 9:42 a.m.The scrip has touched an intra-day high of Rs 14.50 and low of Rs 13.90. The total volume of shares traded at the BSE is 65,280.In the earlier session, the shares lost 1.48%, or Rs 0.22, at Rs 14.63. Currently, the stock is trading down 17.24% from its 52-week high of Rs 17.05 and above 63.12% over the 52-week low of Rs 8.65.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 15.20 (0.57) (3.75) 1 Month 12.55 2.08 16.57 3 Months 11.48 3.15 27.44 6 Months 10.27 4.36 42.45 1 Year 12.29 2.34 19.04 Note: Based on previous day closing price.