HSBC Global Investment Fund sells 71.20 lakh shares of JSPL

Naveen Jindal-Led Jindal Steel and Power today said HSBC Global Investment Fund has sold 71.20 lakh shares of the company in the open market.
In a regulatory filing, the firm said HSBC Global Investment Fund sold 71.20 lakh shares amounting to 0.78 per cent stake in the company through open market sales on September 6.
Post the transaction, the fund's stake in the firm has gone down to 2.29 per cent from 3.07 per cent earlier, it added.
Earlier this month, the steel and power producer has said its consolidated net loss doubled to Rs 1,082.15 crore for the June quarter on account of decline in demand as well as higher fuel and finance costs against a net loss of Rs 542.42 crore in the same quarter a year-ago.

Total consolidated income was higher at Rs 4,655.45 crore in April-June quarter this fiscal from Rs 4,405.73 crore during the corresponding period of 2015-16.
The company reported a production of 1.2 million tonnes (MT) and sales of 1.1 MT in the June quarter.