Market News
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Coal stocks at power plants seen at 42 MT as demand surges
Coal stocks at thermal power plants are projected to be around 42 million tonnes at the monsoon's onset, a dip from last year's 58 million tonnes due to increased electricity demand. Despite this, officials deem the levels comfortable. Record-breaking power demand, reaching 270 GW in May, has led to higher coal consumption.
Hindustan Zinc to roll out AI-driven solutions across mining, manufacturing operations
Hindustan Zinc Limited is set to generate two thousand crore rupees in value. This will be achieved by implementing artificial intelligence solutions across its mining and manufacturing operations. The company is collaborating with deep tech startups to enhance production and optimize costs. This strategic move aims to drive smart manufacturing and solidify its position as a leader in the industry.
India will need to see how long fuel retailers can bear losses, oil minister says
India's oil minister highlighted the need to address state-run fuel retailers' mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon.