BENGALURU (Reuters) – Shares of Indian steel-to-power conglomerate JSW Group pared losses on Monday after falling as much as 5%, following news over the weekend about its billionaire Chairman Sajjan Jindal, who denied an allegation of rape levelled against him.
In a statement on Sunday to Reuters, a representative for Jindal said: “As the investigation is ongoing, we will refrain from commenting further at this stage.”
In early trade on Monday, flagship firm JSW Steel was down 1.2%, while JSW Energy lost 1.6% and JSW Infrastructure slid about 1.7%.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Edmund Klamann)
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