Jindal Steel and Power drops 6%

New Delhi: Jindal Steel and Power shares dropped more than 6 per cent in trade on Wednesday after analysts flagged delays in execution. Jindal Steel and Power was down 6.45 per cent in trade at Rs 593 on BSE. Tushar Chaudhari (research analyst), Prabhudas Lilladher, said in a note that commissioning of 5.5mtpa Hot Strip Mill (HSM) is on track to be completed in 3QFY24 but expect delay in commissioning of 3mtpa BOF-III. BOF-II timeline further pushed by two quarters to 4QFY25.