Power major sets coal targets amid rising demand
NTPC plans to raise commercial coal sourcing to 10–15 million tonnes annually from FY28 as stocks fall to 20.6 million tonnes and September power demand rises 11.35%. OI Charts data showed a long build-up ahead of the 27 Oct expiry.
after close1 source ↓machine-written, see hownot a recommendation
- NTPC close
- ₹312.00
- On the day
- +0.74%
- Futures OI, long build-up
- +0.5%
- Put-call ratio
- 0.49
- Max pain
- ₹320.00
NTPC is reshaping its fuel strategy as electricity demand rises and coal inventories fall. The company plans to source around 10 million tonnes of coal from commercial miners in the second half of FY27, scaling this to 10–15 million tonnes annually from FY28. It is also targeting about 50 million tonnes from captive mines against estimated total coal demand of nearly 300 million tonnes in FY27. ⚡
Coal stocks declined to 20.6 million tonnes from 55 million tonnes at the start of the fiscal year and 44 million tonnes in July, according to the reported figures. The drawdown comes as September power demand increased 11.35% to 162 billion units, while peak demand exceeded 269 GW. The combination of lower inventories and higher demand makes fuel availability, commercial sourcing costs and captive production important variables for generation volumes and margins.
NTPC also plans to invest around ₹14,000 cr in a Talaipalli coal-to-SNG plant, with targeted capacity of 0.5 million tonnes per annum. The company cut a battery contract worth ₹413 cr, adding a smaller capital-allocation development to the broader fuel and capacity review. The reported plans follow recent attention on coal availability and support the company’s stated effort to diversify and secure supplies. 🏭
OI Charts data for 9 Oct 2026 showed the stock at ₹312.00, up 0.74%, with volume of 7,374,305 shares. It had fallen 1.0% over five sessions and 6.7% over 20 sessions, and remained close to its 52-week low of ₹308.45 recorded on 8 Oct, versus a 52-week high of ₹414.40 on 27 Apr.
In derivatives, futures open interest rose 0.5% in a long build-up, while the futures premium stood at 0.26%. The put-call ratio was 0.49, and max pain for the 27 Oct expiry was ₹320. The largest call open interest was at ₹325, a level to monitor alongside the ₹320 max-pain point; the largest put open interest was reported at ₹390. The next market focus is the pace of commercial coal sourcing, inventory replenishment, the Talaipalli project’s development milestones and demand trends through the 27 Oct expiry.
Source: TradingView, 12 Oct 2026
Not investment advice. For informational purposes only.