The Press Trust of India (PTI) reported that a Supreme Court bench on Monday said it was not in favour of a blanket ban on mining in the state but possibly pass an interim ban on 40 iron ore mine leases.
The top court was hearing a PIL seeking CBI probe into illegal mining in Odisha and stopping of all mining activities in the state.
According to the PTI report, a Supreme Court appointed committee had in its interim report said that a large number of mining leases in the state had been operational long after the expiry of the lease period and 40 such leases included those of Tata Steel, Steel Authority of India Ltd (SAIL) and Jindal Steel and Power Ltd, operating under the deemed approved norms.
Tata Steel shares were down 3.2 per cent at Rs. 412 while JSPLshares fell over 4 per cent to Rs. 262.30. SAIL shares were down 2.2 per cent at Rs. 70.