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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 ‘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 Its wholly-owned subsidiary, Zomato Financial Services, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India.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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