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Stocks in Focus: Patanjali Foods, Coal India, Zydus Lifesciences, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.17% higher by 40.50 points at 24,245.50 indicating that the domestic benchmark indices are likely to make a positive start on Tuesday.

On Monday, 1 July, Domestic benchmark indices S&P BSE Sensex gained 443 points or 0.56%, to end at 79,476, while the Nifty50 traded 131 points or 0.55% up and settled at 24,142.

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

Coal India: The company announced that it recorded its coal production at 189.3 million tonnes during the first quarter ending June for the current fiscal year, marking a 7.9% year-on-year growth from 175.5 million tonnes recorded during the same period last year. 

Patanjali Foods: The company has entered into a business transfer agreement with Patanjali Ayurved to acquire the non-food business undertakings, including skin care, dental care, hair care, and home care business of Patanjali Ayurved for a total consideration of Rs 1,100 crore, which will be paid in five tranches. 

Zydus Lifesciences: The company’s wholly-owned subsidiary, Zydus Healthcare, received an income tax notice demand of Rs 284.58 crore for the assessment year 2023-24. 

DCX Systems: The company has announced securing a significant contract from Larsen and Toubro, valued at Rs 1,250 crore, for the manufacturing and supply of electronic modules that the company will execute within three years. 

NMDC: The company has reduced its iron prices by Rs 500 per tonne for lump ore. The price reduction comes after the company’s production and sales declined in June. 

One97 Communications: Paytm’s parent company has denied reports suggesting that it has decided to avoid pursuing businesses that require regulatory licenses. 

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