Surplus power from “linkage coal” can be sold by thermal stations in the market: Power Ministry tells utilities as summer heat intensifies
Coal-based thermal plants can use linkage coal to offer surplus power in the power market, the Ministry of Power clarified to all generating companies Monday. The clarification was issued to ensure “optimum utilisation of generating stations” as India braces for a hotter-than-normal summer, which is set to push peak demand to a record 260 GW. In recent weeks, the power ministry has already issued instructions to imported coal-based units and all gas-based thermal plants to remain operational during the coming months to avoid power outages.

8-10% growth in steel demand in India likely in FY25: TV Narendran
Global steel prices, including in India, will continue to be determined by China’s production (including cuts) and exports. While steel demand in India is expected to grow by at least 8-10 per cent for FY25, a few notches higher than the GDP, TV Narendran, Managing Director, Tata Steel told businessline. According to him, India turning net importer of steel, looks to be a temporary phenomenon, and “it would be a pity” if this continues in the long-run. However, Indian consumption story continues to be strong. Consumption is primarily infrastructure-led.

Vedanta Resources unlikely to dispose of majority stake in Konkola Copper Mines
With Vedanta Resources (VRL) unwilling to lose its majority stake in Zambia-based Konkola Copper Mines (KCM), plans of UAE-based International Resources Holdings (IRH) to buy a 51% stake in KCM may not materialise. Besides, the company helmed by Anil Agarwal could be reluctant to let go of its majority stake in KCM, as the latter’s operational visibility is improving, according to a report by CreditSights.

Vedanta Resources eyes various fundraise options for Zambia copper mine

“We can confirm that Standard Chartered Bank is assisting Vedanta in its broader strategy to manage its capital structure and ensure the company has the funds to meet its obligations and continue its operations again. It is common practice for large corporations to engage with financial institutions for such purposes,” said a Vedanta spokesperson.

Dip in gold prices ahead of Akshaya Tritiya to boost demand
Besides the de-escalation of war threats, huge profit-booking following the recent price surge and a resurgence in the US economy also exerted downward pressure on gold prices.

Zinc futures: Go long when the price softens
Zinc futures on the Multi Commodity Exchange (MCX) has been facing resistance at ₹250 over the past few sessions. As the contract continues to hover around this price band, the chance of a corrective decline is increasing. From the current level, the April zinc contract is likely to see a dip to ₹235 – its 20-day moving average. Post this move, we can expect the contract to resume the uptrend, which can lift the contract to ₹265.

Govt spikes HZL’s revised de-merger plan
The government has persisted with its opposition to Vedanta’s move to de-merge Hindustan Zinc Ltd (HZL), even after the promoter changed the plan from a three- to two-way split. A senior official, on condition if anonymity told FE that the Centre would not support the revised proposal either, as it felt that several issues could arise as a result of the split.

Hindustan Zinc needs strong prices to show its mettle in FY25
Hindustan Zinc Ltd’s (HZL) revenue fell by 11% year-on-year to ₹7,550 crore in the March quarter (Q4FY24) thanks to lower realizations and subdued volume growth. The decline in Ebitda was steeper at 14%.

Regulator plans new tariff policy for petroleum product pipelines
After coming out with unified tariff for natural gas pipelines, the Petroleum and Natural Gas Regulatory Board is now seeking to revise the tariff policy for the product pipelines laid out by the state-owned oil marketing companies and private refiners, a member of the regulatory board, who did not wish to be identified told FE.

‘K’taka & Guj lead clean energy transition race’
New Delhi: Karnataka and Gujarat continue to lead the race to clean energy transition, but states like Jharkhand, Bihar, West Bengal and Uttar Pradesh need to step up efforts, according to a new report released on Tuesday.

Karnataka, Gujarat exhibit strong commitment to clean energy transition
Karnataka and Gujarat have displayed continued commitment towards clean energy transition with both states effectively integrating renewable energy (RE) into their power sectors.