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Merchant power prices to stay high; steel sector outlook positive: JSPL's Uppal

Jindal Steel and Power Limited (JSPL) is in focus as reports indicate that plant utilisation at India’s coal plants are running at a 3-year high as hydro, nuclear output falls. Lower rainfall in southern & western states led to decline in hyower generation. Moreover, the Plant utilisation at coal-fired stations has risen to 58 percent in August versus 51.6 percent year on year. All this has pushed up spot power prices. Upbeat on the outlook for the power and steel sector going forward Ravi Uppal, MD & CEO, JSPL, said the higher demand for power has led to merchant power prices moving up and they are expected to stay at higher levels for at least next few months. According to him, the power demand is more than .....

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