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.

An Indian Railways team is in China to chalk out plans for conducting feasibility study to build the 1,754 km-long Delhi-Chennai high-speed train corridor, world's second largest bullet train line.

The high-level team of officials from Rail Vikas Nigam Limited led by Satish Agnihotri arrived here yesterday and is in talks with China's High Speed Rail Corp to build the Delhi- Chennai corridor for which the communist giant has agreed to conduct the study free of cost during President Xi Jinping's visit to India in September, officials here told PTI.

Shares of BHEL were up nearly 2% at Rs 262 after a foreign brokerage upgraded the stock to "buy"from "sell"earlier.

The upgrade is on the back of good orders, earnings, under performance and under ownership by institutional investors, Citigroup said. The brokerage said that the state-owned engineering major is now its top industrial pick and has also raised the target price to Rs 335.

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.

Shares of most of the frontline banks are trading lower between 1-4% on profit booking after rallying 20% in past one and half months.

Canara Bank, Bank of India, Federal Bank, Yes Bank, Punjab National Bank, Kotak Mahindra Bank, ICICI Bank and Bank of Baroda are down between 2-4%, while State Bank of India (SBI), IndusInd Bank and Axis Bank are down 1% each on the National Stock Exchange (NSE).

The CBI was on Tuesday asked by a Special Court as to whether it has examined former Prime Minister Manmohan Singh, who was then holding coal portfolio, during its probe in the coal blocks allocation scam case involving top industrialist KM Birla, former coal secretary PC Parakh and others.

Special CBI Judge Bharat Parashar asked the agency,"Don't you think examination of the then coal minister was necessary in the matter? Don't you feel the need to examine him? Don't you think his statement was necessary to present a clear picture?"

According to an analysis by Business Standard, about half (428) the 836 stocks in the BSE 500, BSE small-cap and BSE mid-cap indices have doubled in the past 15 months. During this period, the benchmark indices — the BSE Sensex and the National Stock Exchange Nifty — have gained about 60 per cent.

Experts said investor sentiment and valuations had hit rock-bottom last year due to weak domestic macro fundamentals. A subsequent improvement in investor sentiment and return of risk appetite had aided the market across the board.

Benchmark indices may open on a flat note tracking the mixed trends in their Asian peers. However, markets are likely to rebound later in the session and edge higher on firm global cues.

At 8:20AM, the early indicator SGX Nifty was up 5 points at 8,540.

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.

Hyundai Motor and Kia Motors on Monday raised their target for 2014 global sales to at least 8 million vehicles, anticipating record-high China sales to offset slowing growth in the United States and Europe.

The South Korean automakers, which together rank fifth in global vehicles sales, said in a statement the new sales target would represent an almost 6% increase from last year.

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