Stocks To Watch Today: Coal India, NMDC, DCX Systems, And Others Are Among Top Stocks To Track On July 2

02/07/2024

stocks to watch today: coal india, nmdc, dcx systems, and others are among top stocks to track on july 2

Indian equity indices, BSE Sensex and NSE Nifty 50, are expected to open higher on Tuesday as indicated by GIFT Nifty. The index rose by 40.50 points or 0.17 per cent, reaching 24,245.50.

Stock Market Performance Yesterday

On Monday, NSE Nifty 50 increased by 131 points or 0.55 per cent to settle at 24,142, while BSE Sensex jumped 443 points or 0.56 per cent to close at 79,476.

Stocks To Watch Today, July 2

Here are the key stocks to watch today:

Coal India

State-owned Coal India Limited announced a coal production of 189.3 million tonnes in the first quarter ending June FY2025, showing a growth of 7.9 per cent compared to 175.5 million tonnes in the same period last year. This marks an increase of 13.8 million tonnes in volume terms compared to the previous year.

DCX Systems

DCX Systems received a significant contract from Larsen & Toubro valued at ₹1,250 crore plus applicable taxes. The contract involves manufacturing and supplying electronic modules, to be executed within three years.

Gandhar Oil Refinery

The foreign subsidiary of Gandhar Oil Refinery, Texol Lubritech FZC, secured a three-year contract with Abu Dhabi National Oil Co. for Distribution PJSC, UAE. The contract, worth Rs 375 crore per year, involves manufacturing, packaging, labelling, and supplying products with an estimated quantity of 30 million litres per year.

OMCs (Oil Marketing Companies)

The Indian government has raised the windfall tax on petroleum crude to Rs 6,000 ($72) per metric ton from Rs 3,250, effective from July 2. However, the windfall tax for diesel and aviation turbine fuel remains unchanged at zero.

One97 Communications

The parent company of Paytm, One97 Communications Limited, denied media reports suggesting it would avoid businesses requiring regulatory licenses. The company affirmed its commitment to building on its core regulated business lines of payments and financial services, stating there is no change in its operating strategy.

Patanjali Foods

Patanjali Foods announced it will acquire the entire non-food business from Patanjali Ayurved for Rs 1,100 crore. The acquisition will be completed in five tranches.

NMDC

NMDC has reduced iron ore prices by Rs 500 per tonne for lump ore and fines, effective from June 30. The new prices are Rs 5,950 per tonne for lump ore and Rs 5,110 per tonne for fines. Despite the price reduction, NMDC reported a year-on-year decline in iron ore production and sales for June. Production for the month was 3.37 million tonnes compared to 3.48 million tonnes in the same period last year, while sales totaled 3.73 million tonnes, down from 4.10 million tonnes.

CSB Bank

CSB Bank reported a 17.8 per cent increase in gross advances on a yearly basis, reaching Rs 25,099 crore in the first quarter of FY25. The bank also saw a 22.2 per cent increase in deposits, totaling Rs 29,920 crore compared to Rs 24,476 crore in the same period last year.

Zydus Lifesciences

Zydus Healthcare, a subsidiary of Zydus Lifesciences, received an income tax notice demanding Rs 284.58 crore for the assessment year 2023-2024.