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  1. Stocks to Watch, July 2: Ceigall India, HDB Financial, RITES, V-Mart, Adani Enterprises, Bajaj Hindusthan Sugar, Asian Paints

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Stocks to Watch, July 2: Ceigall India, HDB Financial, RITES, V-Mart, Adani Enterprises, Bajaj Hindusthan Sugar, Asian Paints

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6 min read | Updated on July 02, 2025, 08:12 IST

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SUMMARY

Stocks to Watch: HDB Financial Services, an upper-level non-banking financial company (NBFC) and a subsidiary of HDFC Bank, will make its stock market debut on Wednesday, July 2. The Rs 12,500 crore initial public offering, with a price range of ₹700 to ₹740 per share, was subscribed nearly 17 times during the three-day bidding period.

Stock list

Stocks to watch

The GIFT NIFTYY futures suggest that the NIFTY50 index will open 32 points higher. | Image: Shutterstock

Stocks to Watch: The domestic stock market will likely open in the green on Wednesday. The GIFT NIFTY futures suggest that the NIFTY50 index will open 32 points higher.
Here is a list of stocks that may remain in focus today.
InterGlobe Aviation: Shares will be in focus as analysts at Investec said that the airline company is expected to report a 13% YoY (-22% Q/Q) decline in PAT in Q1 FY26, driven by lower P&W compensation and weaker passenger yields, despite lower fuel costs.
Ceigall India: The company said that its subsidiary Ceigall Northern Ayodhya Bypass has received an order from National Highways Authority of India (NHAI). The project cost is ₹1,199.30 crore.
Reliance Power: The company's subsidiary, Samalkot Power, has initiated arbitration proceedings against Export-Import Bank of the United States (US Exim Bank) and Citibank N.A. (Facility Agent) before the London Court of International Arbitration.
SBI Card: SBI Cards and Payment Services said it has received a show cause notice from the Additional Commissioner (East 1), CGST Gurugram, proposing to disallow input tax credit (ITC) amounting to ₹81.93 crore.
RITES: The company said that it has received the purchase order from African Rail Company for the supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique and Botswana.

The order size is 3.6 million USD (CIF).

In a separate filing, RITES-Aryan JV has received the LOA from South Western Railway for the “Tumakuru Station Redevelopment Engineering, Procurement and Construction Agreement for Tumakuru Station Redevelopment, including Civil Works, Signal and Telecommunication works and Electrical General Services at Tumakuru Station. The order size is ₹37.81 crore, excluding GST.

Zaggle Prepaid Ocean Services: The company has entered into an agreement with DTDC Express Limited.
HDB Financial Services: Date: HDB Financial Services, an upper-level non-banking financial company (NBFC) and a subsidiary of HDFC Bank, will make its stock market debut on Wednesday, July 2. The Rs 12,500 crore initial public offering, with a price range of ₹700 to ₹740 per share, was subscribed nearly 17 times during the three-day bidding period.
V-Mart Retail: The company released its business update for the quarter ended June 30, 2025. The company's total revenue from operations for the quarter stood at ₹885 crore compared to ₹786 crore last year, reflecting year-on-year (YoY) growth of 13%. The same-store sales growth (SSSG) stood at +1% for the quarter (V-Mart at +1% and Unlimited at +1%).
Maruti, Hyundai Motor India, and other auto stocks: Automakers Maruti Suzuki and Hyundai Motor India reported a double-digit drop in vehicle dispatches in June amid a demand slowdown in the domestic market.

Mahindra & Mahindra saw an increase in dispatches to dealers last month, while Tata Motors witnessed a dip compared to June last year.

The country's largest carmaker, Maruti Suzuki, said its total domestic passenger vehicle dispatches to dealers dipped 13% to 1,18,906 units last month compared to 1,37,160 units in the year-ago period.

Mahindra & Mahindra reported an 18 per cent increase in sales of utility vehicles to 47,306 units in the domestic market last month against 40,022 units a year ago.

Tata Motors said its passenger vehicle sales, including EVs, in the domestic market were down 15 per cent to 37,083 units compared to 43,524 units in the year-ago month.

Asian Paints: The Competition Commission of India (CCI) on Tuesday ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market for manufacturing and sale of decorative paints.

The direction follows a complaint filed by Grasim Industries (Birla Paints Division), which accused Asian Paints of engaging in exclusionary practices aimed at stifling its entry and growth in the Indian decorative paints segment.

TVS Motor Company: The company said it recorded monthly sales of 402,001 units in June 2025 with a growth of 20% as against 333,646 units in the month of June 2024.
Indian Hotels Company Ltd (IHCL): IHCL on Tuesday announced the signing of a 100-key greenfield Ginger hotel in Kanpur, Uttar Pradesh.

"Kanpur is a prominent manufacturing and commercial centre in Uttar Pradesh, making it an ideal location for Ginger's offering.

"This signing is part of our strategy to build Ginger's presence in such emerging cities. We are delighted to extend our partnership with JK Urbanscapes Developers," Deepika Rao, IHCL Executive Vice President - New Businesses and Hotel Openings, said in a statement.

SJVN: State-owned SJVN on Tuesday announced signing an agreement with Uttar Pradesh Power Corporation Limited (UPPCL) to supply power from its 900-MW Arun-III Hydro Electric Project in Nepal.

The company also signed power purchase agreements (PPAs) with UPPCL for the supply of power from its upcoming 210 MW Luhri Stage-I and 382 MW Sunni Dam Hydro Electric Project (HEP) and 382 MW Sunni Dam HEP in Himachal Pradesh, Shimla-based SJVN said in a statement.

Together, these projects will add 592 MW of green energy to the national grid. These HEPs will generate 2140 MU of electricity annually.

Rainbow Children’s Medicare: The company has completed the acquisition of 76% of fully diluted equity share capital and 100% of Non-Convertible Redeemable Preference Shares (‘NCRPS’) of M/s. Prashanthi Medicare.
Adani Enterprises: The company on Monday informed stock exchanges that Adani Defence Systems and Technologies Limited (ADSTL), a wholly-owned subsidiary of the company, has completed the acquisition of an 85.1% stake in Air Works India (Engineering).
AstraZeneca Pharma India: The company has received permission from the Central Drugs Standard Control Organisation, Directorate General of Health Services, Government of India, to import for sale and distribution Durvalumab Solution for Infusion 120 mg/2.4 ml and 500 mg/10 ml (brand name: Imfinzi) for an additional indication.
Eicher Motors: Eicher Motors’ motorcycle division has reported a 22% rise in sales at 89,540 units in June 2025 as compared to 73,141 motorcycles sold in June 2024. The company’s sales of models with engine capacity up to 350 cc increased by 25% to 76,680 units in June 2025 against 61,465 units in the same period a year ago.
Ather Energy: The company has introduced the new Rizta S with a 3.7 kWh battery pack, expanding its Rizta family scooter lineup. The latest addition delivers an IDC range of 159 km, making it an ideal choice for daily commuters looking for more range at a compelling price point, without compromising on the comfort, quality, and reliability that the Rizta is known for.
Lloyds Engineering Works: The company has received approval for the acquisition of 13,75,000 equity shares of Techno Industries (TIPL) for a consideration of Rs 25 crore, amounting to 11% of the acquisition of shares in TIPL.
Bajaj Hindusthan Sugar: The company said it has tendered part of its investments in Lalitpur Power Generation Company Limited (LPGCL), a group company, under the buyback offer by LPGCL, and it has received ₹630.80 crore from it.
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