Domestic steel production and consumption continued to improve in October 2020 both sequentially as well as on y-o-y basis, CARE Ratings has stated in its latest report. In October 2020, India’s crude steel production stood at 9 million tonnes (mt), up 0.2% as compared with the corresponding month in 2019 and 5.7% higher as compared to September 2020, the ratings agency has stated.
The last day of India’s first commercial coal auction for private companies ended on a high note with a record bid by Sarda Energy & Minerals Ltd. The company bagged the Gare Palma-IV/7 coal mine in Chhattisgarh by quoting the closing bid of 66.75% revenue share. This is the highest bid received in the auction which started a week ago with 19 coal mines and 42 bidders.
India’s state-owned power generator NTPC Ltd announced around a fourth of its power generation capacity will be based on renewable energy sources by 2030. It sees total capacity growing from the current 62 Gigawatt (GW) to 130 GW by 2032..