Markets continued to trade firm in late noon trades led by rate sensitive shares on hopes of a rate cut by the central bank and index heavyweight Reliance Industries.

At 2:15PM, the 30-share Sensex is up 333 points at 28,772 and the 50-share Nifty has gained 109 points to trade at 8,604.

With Adani Power acquiring the 600-Mw Korba West plant from Avantha Group, Tata Power will soon become a distant second in terms of the largest private power producers in India. The Gautam Adani-promoted Adani Power is set to become the country’s largest private power producer, with an installed capacity of 11,040 Mw.

Currently, Adani Power has operational capacity of 8,580 Mw, against Tata Power’s 8,613 Mw. But the Ahmedabad-based Adani Power’s capacity will soon be enhanced, with an expected announcement of the commissioning of the fifth 660-Mw unit at Tiroda in Maharashtra. Besides, it had acquired the 1,200-Mw Udupi plant from Lanco Infratech in August. Once the Udupi and Korba acquisitions are completed, Adani Power’s total installed capacity will stand at 11,040 Mw. It further has the ambition to take it to 20,000 Mw by 2020.

Tata Power will soon become a distant number two in private sector power production with Adani Power acquiring the 600 MW Korba West unit from Gautam Thapar-led Avantha Group. The billionaire Gautam Adani-promoted company is set to become the largest private sector power producer with installed capacity of 11,040 MW.

Currently, Adani Power has operational capacity of 8580 MW against Tata Power’s 8,613 MW. But it is soon going to announce the commissioning of the fifth unit of 660 MW at Tiroda in Maharashtra. Besides, the completion of the acquisition of 1,200 MW Udupi plant from Lanco Infratech and 600 MW Korba West unit will take its total capacity to 11,040 MW.

With the new government remaining steadfast on overhauling safety regulations followed by car manufacturers, companies fear that the 10-15% upward revision in prices will adversely impact sales.

They say that a price increase upwards of Rs 35,000 per vehicle for an airbag fitment will lead to shrinking affordability levels among buyers, adversely impacting sales.

Benchmark indices are trading in a tight range with Sensex and Nifty swinging between negative and positive zone. After touching record highs in the opening trades, markets slipped on account of profit booking at higher levels.

By 10:25, the Sensex was lower by 3 points at 28,160 mark whereas the Nifty dipped 8 points at 8,418 levels.

Tata Motor’s Zest is not able to match up to its competition sales figures mainly because of production constraints, which the company has failed to iron out even three months after launch of the sedan. The waiting period on all-new car from the struggling Mumbai-based company is several weeks, even as competing models in the segment are available off-the-shelf and even at a discount.

Zest buyers are forced to wait up to six weeks for the automated manual transmission (AMT) version, available only on this car in the compact sedan segment.

Mumbai: India’s benchmark 30-share Sensex index was trading 35 points lower on Monday morning, led by losses in IT and banking shares.

At 9.40am, the BSE Sensex was down 0.13%, or 37.81 points, at 28,008.85 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading down 0.22%, or 18.15 points, at 8,371.75 points.

Tata Motors is trading higher by 2% at Rs 535 on National Stock Exchange (NSE) in otherwise subdued market after reporting a 60 bps improvement in consolidated operating profit margins to 15.8% in September quarter.

While Jaguar Land Rover (JLR) reported a healthy EBITDA margin expansion of 190 basis points to a whopping 19.4%.

Tata Motors reported a 7% dip in consolidated net profit at Rs 3,291 crore for the quarter ended Septmeber 2014. It was Rs 3,542 crore in the smae period a year ago.

However, the consolidated total income rose 6% to Rs 60,783 crore as against Rs 57,100 crore in September 2013.

Benchmark indices are likely to open on a volatile note amid the decline in select Asian markets which came under pressure on weak macro-data from China. Meanwhile, further decline in crude prices below the level of $80 a barrel will keep oil and gas shares in focus.

Earlier, the government on Thursday raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year.

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