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Stocks in Focus: HDFC Bank, Rail Vikas Nigam, ITC, KEC International, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.42% higher by 102 points at 24,347 indicating that the domestic benchmark indices are likely to make a positive start on Tuesday.

On Tuesday, 2 July, Domestic benchmark indices S&P BSE Sensex slumped 35 points or 0.04%, to end at 79,441.45, while the Nifty50 traded 18.10 points or 0.07% up and settled at 24,124.

Here are some stocks that are likely to remain in focus on 3 July.

HDFC Bank: The company has announced its shareholding data for the April-June quarter, highlighting the ownership of foreign institutional investors in the private lender has been reduced during the quarter to 54.8%. 

Rail Vikas Nigam: The company has emerged as the lowest bidder for an order worth Rs 132.59 crore for overhead equipment (OHE) modification work for upgrading the current 1×25 kilovolt (kV) electric traction system to a 2×25 kV At feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway to meet a loading target of 3,000 MT. 

ITC: The company has announced the launch of β€˜Sunfeast Dark Fantasy Choco Fills’ in Nepal, highlighting that its FMCG business vertical has now expanded its export footprint to over 70 countries. 

KEC International: The company has announced that it is securing a new order worth Rs 1,017 crore in the transmission and distribution (T&D) business and clean energy sectors. The order includes an engineering, procurement, and construction (EPC) project and tower supply in the Middle East.

Zomato: The company has scrapped the plan to enter the lending business. Its wholly-owned subsidiary, Zomato Financial Services, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India.

Concor: The government is planning to offload a 5% to 7% stake in the company, following plans for a strategic sale to privatise the company, met with lukewarm interest.

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