Hindalco shares fall 5% after CBI books Kumar Mangalam Birla in coal scam

However, later, some of these stocks recovered lost ground, with Hindalco trading higher by 0.45 per cent and Idea up 0.03 per cent in late morning trade.

Kumar Mangalam Birla, Chairman of the Aditya Birla Group. (File pic) 

Hindalco Industries' scrip had tanked 4.97 per cent to Rs 105.10, while Aditya Birla Nuvo had fallen by 4.16 per cent to Rs 1,209.90 and Idea Cellular lost 1.35 per cent to Rs 182.45 on the BSE.

Among others, shares of Grasim fell by 1.18 per cent, while Aditya Birla Chemicals was down 1.42 per cent and Aditya Birla Money shed 3.71 per cent. After registering the 14th FIR in the coal scam, CBI teams carried out coordinated searches at nearly six locations in Mumbai, Delhi, Hyderabad and Bhubaneshwar.

CBI sources said the agency has booked Birla as a representative of Aditya Birla Group and his group company Hindalco for alleged corruption in the allocation of Talabira two coal block in Odisha which was allotted to it on November 10, 2005.

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