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JTL Industries, V2 Retail, NMDC, V-Mart, Force Motors, Maruti Suzuki, South Indian Bank, Canara Bank and Ola Electric report strong growth, Coal India wins 600 MW solar project
Stocks To Watch Today, July 02.
The Indian stock market is likely to open on a positive note on Thursday, tracking firm global cues. GIFT Nifty was trading at 24,184, up 140 points or 0.58% at around 7:53 am IST, indicating a gap-up opening for the benchmark indices Sensex and Nifty 50.
Business Updates
JTL Industries
The company reported an 18% year-on-year (YoY) increase in sales volume to 1,18,513 MT in Q1 FY27 from 1,08,406 MT a year ago. Management attributed the growth to strong demand, higher capacity utilisation at its Mangaon facility, an improved product mix and operational efficiencies.
V2 Retail
V2 Retail posted a 58% YoY rise in Q1 FY27 revenue, supported by 7.5% same-store sales growth. Monthly sales per square foot stood at Rs 886. The retailer expanded aggressively by adding 57 stores and closing one, taking its total network to 381 stores.
NMDC
State-owned miner NMDC reported a 44% YoY jump in June production to 5.15 million tonnes (MT), driven by strong output from its Chhattisgarh operations. Sales rose 11% YoY to 3.98 MT.
V-Mart Retail
The value retailer’s Q1 FY27 revenue increased 23% YoY to Rs 1,089 crore. During the quarter, it opened 15 stores and shut one, taking its total store count to 591.
Force Motors
Domestic vehicle sales climbed 26.63% YoY to 3,547 units in June, while exports surged 76.14% to 88 units. Total vehicle sales grew 23.5% YoY.
Maruti Suzuki India
The automaker’s total vehicle production rose 39.57% YoY in June to 1.78 lakh units from 1.27 lakh units a year earlier.
South Indian Bank
The lender reported a 17% YoY increase in gross advances to Rs 1,04,366 crore and an 11.4% rise in total deposits to Rs 1,25,786 crore. CASA deposits grew 14.6%, improving the CASA ratio to 32.99%.
Canara Bank
Global deposits rose 11.7% YoY to Rs 16.13 lakh crore, while global advances increased 18% to Rs 12.93 lakh crore. Domestic RAM advances grew 21.3% YoY.
Ola Electric
The EV maker registered 43,719 vehicles in Q1 FY27, according to VAHAN data, nearly doubling registrations from Q4 FY26.
Orders & Contracts
Coal India
The PSU has secured a mandate to develop a 600 MW solar power project at Jalaun Solar Park in Uttar Pradesh. The project, worth Rs 2,831.11 crore, is expected to be completed within 18 months of signing the power purchase agreement (PPA).
DEV Information Technology
The company received a Rs 2.79 crore work order from Gujarat International Finance Tec-City (GIFT City) to develop and maintain a multilingual web portal and Digital Twin platform aimed at enhancing investor engagement and digital infrastructure.
Srivasavi Adhesive Tapes
The company signed a five-year manufacturing agreement with a global multinational company to produce woven fabrics. The customer has projected annual demand between 2,500 tonnes in the first year and 3,900 tonnes by the third year, subject to purchase orders.
Expansion & Investment
Hero MotoCorp
The two-wheeler maker announced investments exceeding Rs 3,200 crore in Andhra Pradesh. The plan includes a Rs 750 crore Global Parts Centre in Tirupati and is expected to create over 4,000 jobs.
Regulatory Updates
Lupin
The company received the Establishment Inspection Report (EIR) from the US FDA for its Somerset, New Jersey facility with a Voluntary Action Indicated (VAI) classification following an inspection in April 2026. Separately, the European Medicines Agency approved a change to the marketing authorisation for NaMuscla.
Bharti Airtel
Its subsidiary, Airtel Money, has started commercial operations as a Type II non-deposit-taking Non-Banking Financial Company (NBFC).
IPO & Corporate Actions
Brainbees Solutions (FirstCry)
The company approved participation in the proposed IPO of subsidiary Swara Baby Products through an Offer for Sale (OFS) of shares worth up to Rs 300 crore. Swara Baby will continue to remain its subsidiary after listing.
Leadership Changes
Studds Accessories
Bharat Goyal has been appointed Chief Financial Officer (CFO) and Key Managerial Personnel with effect from July 1. Manish Mehta has been redesignated as Vice President – Taxation & Compliance under the Senior Management category.
Syngene International
Siddharth Mittal has taken charge as Managing Director and Chief Executive Officer, succeeding Peter Bains, who completed his tenure as MD & CEO.
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