BENGALURU, Dec 18 (Reuters) - Shares in Indian steel-to-power conglomerate JSW Group fell as much as 5% on Monday, a day after its billionaire Chairman Sajjan Jindal said that local media reports accusing him of rape were "false and baseless".

Flagship firm JSW Steel (JSTL.NS) slid 1.8%, while JSW Energy (JSWE.NS) and JSW Infrastructure (JSWN.NS) reversed losses to trade about 0.1% and 1.7% higher, respectively.

On Sunday, local media reported that a 30-year-old woman had filed a rape complaint against Jindal at a Mumbai police station. The media said the alleged incident occurred last year.

In an email to Reuters, Jindal denied the allegations and said that he would cooperate with any investigation.

As of Friday's close, JSW Steel had notched seven consecutive weeks of gains, while JSW Infrastructure had climbed for three straight weeks.

Shares of JSW Steel has risen more than 11% so far this year, while JSW Energy surged over 51%. JSW Infrastructure has mounted nearly 49% since listing in early October this year.

https://www.reuters.com/markets/commodities/indias-jsw-group-firms-shares-pare-losses-after-early-slump-2023-12-18/