Power stocks are trading in the green led by KSK Energy and Adani Power. According to a leading daily, the Cabinet Committee on Investment is likely to consider the issue of relocation of National Thermal Power Corporation's (NTPC) proposed North Karanpura Super Thermal Power plant in Jharkhand. NTPC is setting up a 1,980 megawatt power plant in Jharkhand in the vicinity of Tandwa town in the Chatra district. This is NTPC's first project in Jharkhand. However, in 2008, the ministry of coal withdrew the coal linkages to the plant citing safety concerns. The cabinet will also review the progress of implementation of 3 important rail projects in the meeting.
Automobile stocks are trading strong led by Maharashtra Scooters and Ashok Leyland. As per a leading daily, Ashok Leyland is all set to launch its range of trucks in India by July. The range by the name of Avia trucks will be rolled out of its Pant Nagar manufacturing facility located in Uttarakhand. We may recollect here that earlier in 2006, Ashok Leyland had acquired the Avia Truck Business Unit at a cost of around US$ 35 m and rechristened the same as Avia Ashok Leyland Motors. Also, the Indian automobile company is thinking of launching a series of heavy commercial vehicles - tippers and tractor trailers too by July-October. Given that the MHCV industry has been facing considerable headwinds, the company has been focusing on ramping up product launches.