Top Stocks in Focus: HDB Financial, Asian Paints, Lupin, Sambhv Steel, Hyundai, RITES, Paras Defence and More
Mumbai, July 2, 2025 — Indian equity markets saw a marginal uptick on Tuesday amid cautious trading, as investors closely monitored developments around the India-US trade pact and quarterly earnings from major corporates. The BSE Sensex rose by 90.83 points (0.11%) to close at 83,697.29, while the NSE Nifty 50 index added 24.75 points (0.10%) to finish at 25,541.80. As the markets open on Wednesday, several stocks are poised to remain under the spotlight, given new corporate actions, regulatory developments, and fresh business updates. Here is a summary of the key stocks making headlines:
HDB Financial Services: New Listing on Dalal Street
HDB Financial Services, an HDFC Bank-backed non-banking financial company (NBFC), is set to make its stock market debut today. The company successfully raised ₹12,500 crore through its initial public offering (IPO), which was priced at ₹740 per share and heavily oversubscribed 16.7 times during June 25-27, 2025. Market watchers will be keenly observing HDB Financial’s performance on its maiden day as it enters the competitive Indian NBFC space.
Sambhv Steel Tubes: IPO Listing Today
Steel pipe and tube manufacturer Sambhv Steel Tubes will also list its shares today following a robust IPO that garnered a ₹540 crore raise at ₹82 per share. The issue was significantly oversubscribed at 28.46 times, reflecting strong investor interest in the metals sector.
Asian Paints: Under Regulatory Scanner
Asian Paints is facing investigation from the Competition Commission of India (CCI) over allegations of abusing its market dominance in the paint sector. This probe follows a complaint from Grasim Industries — which recently entered the market via Birla Opus Paints — and signals potential regulatory challenges for the leading paint maker. The CCI’s Director General has been directed to conduct a detailed inquiry.
Hyundai Motor India: Decline in June Sales
The auto major reported a 6% year-on-year decline in total vehicle sales for June 2025, with units slipping to 60,924 compared to 64,803 in June 2024. Domestic dispatches saw an even steeper fall of 12%, dropping to 44,024 units from 50,103 units last year. The slower sales volumes may put pressure on Hyundai’s near-term stock performance.
Lupin: USFDA Approval Boost
Pharmaceutical firm Lupin has received approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) concerning Loteprednol Etabonate Ophthalmic Gel. Being the first to file, Lupin is eligible for a 180-day generic drug exclusivity period for this corticosteroid product used to manage postoperative inflammation and pain after eye surgeries. This approval is expected to bolster Lupin’s presence in the US generics market.
SBI Cards & Payment Services: GST Show Cause Notice
SBI Cards faces regulatory scrutiny as the GST Department in Gurugram has issued a show cause notice proposing the denial of input tax credit (ITC) amounting to ₹81.45 crore due to discrepancies between GSTR-2A and GSTR-3B filings, alongside ₹47.53 lakh related to supplies from units with canceled registrations. The outcome of this notice could have financial implications for the company.
RITES: New Orders and Projects
RITES Ltd, a rail transport infrastructure company, secured an order worth $3.6 million from an African Rail Company for supplying two completely overhauled ALCO locomotives for operations in Zimbabwe, Mozambique, and Botswana. Moreover, its joint venture with Aryan has received a letter of acceptance for the Tumakuru Station redevelopment project valued at ₹37.81 crore.
JSW Energy: Battery Energy Storage Agreement
JSW Energy’s subsidiary, JSW Renew Energy Thirty Seven, signed a 12-year battery energy storage purchase agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL). The deal involves a standalone battery energy storage system (BESS) with 250 MW / 500 MWh capacity, at a tariff of ₹2,24,000 per MW per month, highlighting growing investments in renewable energy infrastructure.
Paras Defence and Space Technologies: European Expansion
Paras Defence’s subsidiary, Paras Anti Drone Technologies, announced that France-based CERBAIR plans to procure up to 30 units of its advanced CHIMERA 200 radio frequency detection and neutralization systems. The deal is valued at approximately ₹22 crore, marking a significant export win in the counter-UAV sector.
Other Notable Updates
- V-Mart Retail posted a strong 12.6% year-on-year revenue growth to ₹885 crore in Q1 FY26.
- Nazara Technologies’ subsidiary Nodwin Gaming has fully acquired AFK Gaming, further expanding its footprint in the esports arena.
- MOIL raised prices of ferro grades of manganese ore and chemical grades by 2%, effective July 1.
- Piccadily Agro Industries is set to list its shares on the NSE starting July 2.
- Exicom Tele-Systems received board approval for a rights issue worth ₹259.41 crore, set to open mid-July.
Market participants are advised to closely monitor these developments as they could shape trading trends and investor sentiment in the immediate term.
Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Investors should conduct their own due diligence and consult qualified financial advisors before making investment decisions.
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Published on July 2, 2025, at 8:05 AM IST
By Pawan Kumar Nahar, Business Today / Smart Money Mindset