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The Mint Report for 26 December 2011

The Mint Report for 26 December 2011
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First Published: Mon, Dec 26 2011. 10 18 PM IST

Free upgrade: Tata Motors is offering a free upgrade for Nano cars. Photo: Bloomberg
Free upgrade: Tata Motors is offering a free upgrade for Nano cars. Photo: Bloomberg
Updated: Mon, Dec 26 2011. 10 18 PM IST
Power company NTPC’s mega order for equipment is stuck in limbo. It has been unable to acquire land for some of the intended projects. The three projects in question are Lara in Chhattisgarh along with Darlipalli and Gajmara, both in Orissa.
Free upgrade: Tata Motors is offering a free upgrade for Nano cars. Photo: Bloomberg
As a result, NTPC has refrained from awarding contracts to the winning bidders. The equipment in question included turbine generators for planned projects in three states, as well as boilers worth Rs22,000 crore.
NTPC’s proposed projects have a capacity of 4,000 MW each. Typically, one megawatt requires one acre of land.
Switching gears, Tata Motors is offering a free upgrade for Nano cars. The company is offering to replace the starter motors on older Nanos with the new 2012 version. Tata Motors launched the 2012 edition of the Nano in November.
The company insists the upgrade is not due to any safety concerns. But last month it had offered Nano customers the option of retro-fitting a safety feature after some cars caught fire.
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Large NTPC order is stuck in limbo; Tata Motors offers free upgrade for Nanos; markets begin the week with gains.
And finally, Indian markets shot up on Monday, gaining more than other Asian bourses. Investors snapped up shares amid expectations that RBI would cut its cash reserve ratio early next month. The Sensex surged 232 points to 15,971. And the Nifty climbed 65 to 4,779.
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First Published: Mon, Dec 26 2011. 10 18 PM IST
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