JSPL, Hindalco shares gain post govt's move to auction coal blocks

Jindal Steel and Power (JSPL) shares gained 7 per cent, while Hindalco Industries' scrip was trading 2.2 per cent up after the government said on Monday it would auction off coal blocks after the Supreme Court cancelled allocations in August.

The government also said winners of the coal block allocations would have to pay back previous holders of the permits for their investment with a 12 per cent return, according to media reports.

(Reuters)