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Despite sharp falls in power plant stocks, Indian oversupply outlook persists

Thermal power plants across India have achieved significant drawdown on existing stocks this month riding on assured supplies, however, this was is seen as more of a blip rather than a sustained emerging trend.

According to government data, total coal stocks carried by all thermal power plants in the country was pegged at 24-million tonnes as on February 11, compared to a shade over 36-million tonnes on corresponding date of 2016.