Crash of the Titans
Institutional equity investors have lost $3 billion on Indian coal companies between 2016-2020. HDFC Mutual Funds, Reliance Nippon, LIC, ICICI Prudential, DSP, Blackrock, Fidelity and Vanguard are among investors that have seen their equity holdings in coal mining and coal-based power companies underperform the benchmark S&P BSE Sensex by between 13% and 40% p.a. since 2016.
TANGEDCO's Recipe for Recovery
TANGEDCO and the Tamil Nadu state government can save 35,000 crores over five years through a combination of retiring 3.1 GW of old coal power plants, freezing expenditure on 3.5 GW of new plants at early stages of construction and availing of cheaper power to meet future demand.