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Lucknow, Jun 23 () The Uttar Pradesh government has imposed a ban on the installation of new China-made meters by the state power department, days after 20 Indian Army personnel were killed by Chinese troops in a clash in Ladakh's Galwan Valley, an official said here on Tuesday. "Installation of Chinese meter has been banned in the state," an official spokesman of the power department said here. "The details have been sought about orders of Chinese meters and equipment and also contracts of Chinese items awarded in the past one year," he said. All India Power Engineers Federation president Shailendra Dubey has welcomed the decision. "In power plants, boilers and tubes and other equipment are brought from China as they are cheap. It's a truth that the quality of Chinese equipment is not good," he said. He said their association demands that equipment used in power plants be purchased from public sector company Bharat Heavy Electricals Limited (BHEL). It will also help achieve the objective of 'Atmanirbhar Bharat' (self-reliant India), he added. SLM ABN CK

UP govt bans installation of China-made meters by power dept

Mumbai, Apr 27 () Domestic steel players need to gear up to raise production by improving efficiency and reducing cost to tap into the international markets, as China has become a net importer due to the COVID-19 impact, said JSPL Managing Director V R Sharma. Speaking at an online seminar organised by the All India Induction Furnaces Association (AIIFA) along with Hyve India, the managing director of Jindal Steel and Power Ltd (JSPL) said the fall in domestic demand for steel is a temporary phenomenon and will pick up once the government agencies start tendering major infrastructure projects. "Due to the COVID-19 pandemic, China's steel production was affected for nearly four months from December 2019 and, thus, they started importing steel from every possible source from March 2020. So, today, China is a net importer of steel and we have no threat from that country," Sharma said. He added that at the same time, the demand from southeast Asian countries and Europe is also increasing as their activities are also impacted. "Therefore, Indian players need to gear up to increase production by reducing cost and improving efficiency." In Europe, the demand is coming from Italy, Spain and Germany because the steel industries there were also severely impacted due to the pandemic. "Similarly, a good demand is coming from Philippines, Indonesia, Malaysia and also from China and we need to take advantage of this by selling as much as we can," he added. Also, with a number of infrastructure projects slated to be tendered by various government agencies, this will give the necessary boost to domestic demand for steel. "Union Minister for Highways Nitin Garkari recently said there are nearly 460 large projects which will come into action by December 2020, which include the ambitious Bharatmala and Sagarmala projects. Along with these, we are expecting projects from the Indian Railways and other state agencies like BHEL, PGCIL and others like the irrigation department. "Once these projects are declared by the government, we will be in a position to sell more steel. There will be so much demand in India that will become an importer of steel if we don't gear up," Sharma added. Besides, the iron ore mines are now operational and there is sufficient availability of domestic coal, which can be used for increasing steel production, he added. "The government and the RBI (Reserve Bank of India) are taking all the necessary steps from their end. We cannot expect the government to do everything. While we should focus on improving productivity, the government can ensure movement of trucks and tendering of projects as fast as possible. Also, the government can support the industry in terms of moratorium and not declaring companies as NPAs (non-performing assets)," Sharma added. PSK HRS

Firms need to gear up to raise output for tapping steel markets ceded by China due to COVID-19: JSPL

<ul><li>The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Friday. The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. The US stock markets soared on Thursday, led by a rally in tech and healthcare stocks, as the <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-370-points-as-likely-divided-government-extends-healthcare-and-tech-rallies/articleshow/79065261.cms">dwindling prospects of a Democratic sweep</a> lifted sectors prone to regulation. The Dow Jones Industrial Average closed 542 points higher, and the S&amp;P 500 gained 1.9%. These are the stocks to watch out for during the trading session on November 6: Reliance Industries Limited (RIL) Mukesh Ambani-owned Reliance Industries (RIL) garnered over ₹9,555 crore from <a href="https://www.businessinsider.in/business/news/mukesh-ambani-cashes-in-yet-another-cheque-from-pif-saudi-arabia-sovereign-fund-to-invest-1-3-billion-in-reliance-retail/articleshow/79061345.cms">Saudi Arabia Public Investment Fund</a> for a 2.04% stake in Reliance Retail Ventures. The shares of RIL ended 2.28% higher on Thursday. <keyword id="45417" type="COMPANY" weightage="20" keywordseo="Adani-Power">Adani Power</keyword> Adani Power posted a good quarter. Its consolidated net profit surged manifold to ₹2,228.05 crore in the quarter ended September 30, mainly on account of improved income. The company had clocked a net profit of Rs 3.88 crore in the year-ago period. The shares of Adani Power ended 0.41% higher on Thursday. <keyword id="2834858" type="COMPANY" weightage="20" keywordseo="Minda-Corp">Minda Corp</keyword> Minda Corp will allot 1.19 crore shares on a preferential basis to PHI Capital Trust. The shares will be allotted at a price of ₹70 a piece, aggregating up to ₹83 crore. The shares of Minda Corp ended 6% higher on Thursday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The board of cinema hall giant Inox Leisure approved raising up to ₹250 crore via equity or other securities. The shares of Inox Leisure ended 4.5% higher on Thursday. Dalmia Bharat Cement maker Dalmia Bharat reported an over six-fold increase in its consolidated net profit at ₹232 crore for the second quarter ended September 2020, helped by higher sales volume. Its revenue from operations was up 7.78% at ₹2,410 crore during the quarter under review. The shares of Dalmia Bharat ended 6% higher on Thursday. <keyword id="82073" type="COMPANY" weightage="20" keywordseo="Berger-Paints">Berger Paints</keyword> Berger Paints India reported an increase of 13.55% in its consolidated net profit to ₹221.05 crore for the second quarter ended September 2020. Its revenue from operations was up 9% at ₹1,742.55 crore during the quarter under review. The shares of Berger Paints ended 2% higher on Thursday. Birla Corporation Birla Corporation reported an increase of 87% in its profit at ₹166.62 crore in the second quarter ended September 30. The company said that good performance had been due to cost rationalisation and recovery in demand in key markets. The shares of Birla Corporation ended 0.73% higher on Thursday. <keyword id="6357073" type="UNKNOWN" weightage="20" keywordseo="ITC">ITC</keyword>, <keyword id="6357157" type="UNKNOWN" weightage="20" keywordseo="cipla">Cipla</keyword>, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion ITC, Cipla, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/heres-when-you-can-expect-more-data-from-each-state-in-the-next-few-hours/articleshow/79065787.cms" data-type="tilCustomLink">Here's when you can expect more data from each state in the next few hours</a> <a href="https://www.businessinsider.in/india/news/china-bans-entry-of-foreign-nationals-from-india-citing-spike-in-covid-19-cases/articleshow/79062691.cms" data-type="tilCustomLink">China bans entry of foreign nationals from India citing spike in COVID-19 cases</a>

Top stocks to watch — RIL, ITC, Cipla, Adani Power, Inox Leisure, Berger Paints, Minda Corp, and others

Mumbai, May 10 () The supply disruption from China due to the COVID-19 pandemic and subsequent decline in domestic solar capacity addition offer a golden opportunity to ramp up local manufacturing of solar modules and cells, according to industry experts.However, the industry feels there is an urgent need for a national vision policy for local solar modules manufacturing as well as ancillary products, in line of solar power generation target of 100 gw by 2022 under National Solar Mission.Till 2011, India controlled 70-80 per cent of global supplies of solar modules, but today the opposite is the case, as 80-90 per cent of modules are imported, as domestic modules are not cost-effective."The COVID pandemic is a wake-up call for us. We must focus on domestic manufacturing but for that to happen we need a long-term business proposition."We've world-class technology, but we don't have scale like China. For manufacturing to succeed, we need a policy framework that ensures long term off-takes at sustainable prices," Tata Power Solar managing director and chief executive Ashish Khanna told .Vikram Solar chief executive Saibaba Vutukuri also underlines the need to focus on local manufacturing."The vision of 100 gw solar capacity by 2022 is fantastic and can be achieved. But to meet the target, there is a need to push local manufacturing so that our dependence on imports comes down," Vutukuri said.Noting that till 2011 India was one of the largest exporters of the best-in-class modules, he said with a strong policy push we can reclaim that position again and we need to learn a lesson or two from China in building scale."Realising the huge potential, China changed its focus from generation to manufacturing of solar modules and set up large plants that offered them economies of scale, helping it lower the cost and capture global market," he said.Chinese government also helped companies with heavy subsidies, which helped them kill competition without much efforts and capture markets that were dominated by India till then, Vutukuri added.Currently, India has an installed solar generation capacity of 34 gw, while the installed module capacity is only 10-11 gw.Domestic manufacturers, including Bhel, Tata Solar, Moser Baer, Indosolar and Lanco, were the pioneers of the industry. However, over the years, due to stiff competition from China some of them could not sustain and some of them are fighting bankruptcy now.New &amp; Renewable Energy secretary Anand Kumar recently called for increased domestic manufacturing capacity to ensure energy security."Till now we've been manufacturing cells, modules, ingots and wafers. But now, we need to go beyond and start manufacturing other ancillary equipment like back-sheets, glass, inverters, transformers, cables etc so that we have an entire manufacturing ecosystem for renewable energy," Kumar had said.To offer a level-playing field to domestic manufacturers, the government had slapped safeguard duty on imports in 2018 and the Directorate General of Foreign Trade is now looking at whether to continue with the duty or not after July, when the high duty regime is supposed to end.The Budget 2021 has imposed a 20 per cent basic customs duty on imported solar cells and modules. But, industry leaders say there is no clarity new customs duty as of now.According to the data from industry tracker Mercom, as of December 2019, Chinese firm Trina Solar was the leading module supplier in India in terms of volume.Chinese firm GCL System Integration Technology is reportedly planning a 60-gw module factory at Hefei in the Anhui province, adding 15 gw each year to 2023."If such plants actually comes up then that will be the biggest challenge for us. If they start dumping this capacity into our market, domestic module manufacturing will become unsustainable," Vutukuri said.Many domestic manufacturers are willing to increase their capacities, but all they need is strong support from the government, concludes the Tata Solar chief. PSK BAL

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UP govt bans installation of China-made meters by power dept

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Firms need to gear up to raise output for tapping steel markets ceded by China due to COVID-19: JSPL

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Top stocks to watch — RIL, ITC, Cipla, Adani Power, Inox Leisure, Berger Paints, Minda Corp, and others

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COVID-19 provides opportunities for domestic solar module manufacturing

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