The GIFT Nifty futures, which are an early indicator of the Nifty50 index stocks, were trading higher by 37 points at 25,680, indicating that the domestic benchmark indices are likely to make a positive start on Tuesday.

Earlier on Tuesday, 1 July, Domestic benchmark indices S&P BSE Sensex gained by 90.83 points or 0.11%, and settled at 83,697.29 while the Nifty50 traded 0.10% higher or 24.75 points, closing at 25,541.80. 

Here are some stocks that are likely to remain in focus on 2 July.

JSW Energy: JSW Renew Energy Thirty Seven, a JSW Energy subsidiary, signed Battery Energy Storage Purchase Agreements (BESPAs) with RVUNL for 250 MW / 500 MWh standalone BESS projects in Rajasthan. The 12-year BESPAs are set at Rs 2,24,000 per MW per month on a build-own-operate model.

Paras Defence and Space Technology: Paras Anti-Drone Technologies, a subsidiary of Paras Defence, announced that France-based CERBAIR plans to purchase up to 30 CHIMERA 200 anti-drone systems, valued at approximately Rs 22 crore. These systems detect and neutralise drone threats using advanced radio frequency technology.

Asian Paints: The Competition Commission of India (CCI) has directed its Director General to investigate Asian Paints for alleged abuse of market dominance, following a complaint by Grasim Industries’ Birla Opus Paints. The complaint alleges that Asian Paints used restrictive distribution clauses to block Birla Paints’ market entry.

Ceigall India: The company’s subsidiary, Ceigall Northern Ayodhya Bypass Pvt Ltd, has announced securing an order worth Rs 1,199.30 crore from the National Highways Authority of India for constructing a 4/6 lane northern Ayodhya bypass with a total length of 35.40 km in Uttar Pradesh.

Trident: Trident received a Show Cause Notice from CGST, Ludhiana, for alleged tax dues of Rs 51.86 crore, plus interest and penalties. The notice cites discrepancies in ITC reconciliation and under-reporting of tax liability due to mismatches between E-way bills and GST filings for FY 2018–19 to FY 2020–2

Lupin: Lupin has received USFDA approval for its Abbreviated New Drug Application (ANDA) for Loteprednol Etabonate Ophthalmic Gel, 0.38%. As the exclusive first-to-file, Lupin qualifies for 180 days of generic exclusivity. This corticosteroid is prescribed to treat inflammation and pain following ocular surgery.

RITES: The company has announced securing a $3.6 million (CIF) export order from African Rail Company to supply two fully overhauled ALCO locomotives for use in Zimbabwe, Mozambique, and Botswana. In addition, the RITES-Aryan JV received a Letter of Acceptance from South Western Railway for the Tumakuru Station redevelopment project worth Rs 37.81 crore, involving civil, signalling, telecom, and electrical works.

Nazara Technologies: Nodwin Gaming, a Nazara Technologies subsidiary, has acquired a 92.3% stake in AFK Gaming from its founders and shareholders. AFK Gaming is now a wholly owned subsidiary of Nodwin and a step-down subsidiary of Nazara.

SBI Cards: SBI Cards has received a Show Cause Notice from the GST Department, Gurugram, for proposed ITC disallowance of Rs 81.45 crore due to mismatches in GSTR-2A and GSTR-3B, and Rs 47.53 lakh for transactions involving non-compliant vendors, covering FY 2018–19 to FY 2020–21.

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