Meanwhile, the S&P BSE Sensex was down 73.98 points or 0.39% at 19,069.02.
The stock saw spurt in volume. On BSE, 17.86 lakh shares were traded in the counter as against average daily volume of 3.16 lakh shares in the past one quarter.
The stock was immensely volatile. The stock gained as much as 6.25% at the day's high of Rs 240.50. The stock lost as much as 2.36% at the day's low of Rs 221. The stock had hit a 52-week low of Rs 202 in intraday trade on Tuesday, 11 June 2013. The stock had hit a 52-week high of Rs 480 on 5 July 2012.
The stock underperformed the market over the past one month till 11 June 2013, declining 27.24% compared with the Sensex's 4.87% slide. The scrip also underperformed the market in past one quarter, falling 37.59% as against Sensex's 2.56% slide.
The large-cap company has equity capital of Rs 93.48 crore. Face value per share is Re 1.
Shares of Jindal Steel and Power (JSPL) tumbled 15.18% to Rs 226.35 on Tuesday, 12 June 2013 after media reports suggested that the Central Bureau of Investigation (CBI) has registered an FIR against Congress MP and company's Chairman Naveen Jindal in the coal scam case.
The FIR has accused Navin Jindal and JSPL of misrepresentation of networth and concealing previous coal allotment. They are also charged with cheating and forgery. The Naveen Jindal group was allotted a total of 11 blocks, making it the single largest beneficiary of the controversial coal block allotment.
As per reports, CBI officials conducted raids at 15 places in Delhi, Hyderabad and Kolkata on Tuesday, 11 June 2013. The CBI has also filed an FIR against former Minister of State for Coal Dasari Narayan Rao.
Shares of JSPL have been on a declining spree recently on reports the Coal Ministry has on 7 June 2013 issued show cause notices to 11 firms, including JSPL, for not developing the mines allotted to them. The ministry has allowed JSPL a period of 20 days to respond to the show cause notice failing which the coal block would stand de-allocated, reports added. The stock fell 21.23% in four trading sessions to Rs 226.35 on 11 June 2013 from a recent high of Rs 287.35 on 5 June 2013.
The crackdown is part of the government's exercise to ensure that the allocated blocks do not remain unproductive for long.
JSPL's consolidated net profit declined 34.9% to Rs 760.23 crore on 2.2% growth in net sales to Rs 5583.33 crore in Q4 March 2013 over Q4 March 2012.
JSPL is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure.
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