Stocks to watch: Here's why shares of Tata Steel, Godrej Properties, Gandhar Oil Refinery, and DCX Systems will be in focus

The GIFT Nifty index on Tuesday (July 2) around 8:40 am was up by 0.12 per cent or 28.5 points at 24,234.0 . The index hinted at a flat start for Dalal Street. The India VIX, an indicator of fear in the stock market, was up 0.2 per cent at 13.83 points.

Global cues remained positive. The three main US stock indices- Nasdaq, Dow Jones, and S&P 500- closed in the green on Monday (July 1). On Tuesday morning, Asian stocks has also notched gains.

Ahead of the opening bell in India, here’s a look at stocks to watch:

Godrej Properties: Godrej Properties announced on Tuesday that it has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru. This is Godrej Properties’ most successful launch ever in terms of the value and volume of sales, and its second launch with Rs 3,000 crore in sales in the past three months.

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Tata Steel: The company told the exchanges on Monday that Tata Steel UK has received confirmation of the suspension of proposed strike action from Unite Union. “As a result, and given we can now be confident of ensuring appropriate resourcing of activities to operate safely, we will halt preparations for the early cessation of operations on Blast Furnace 4 and the wider heavy end in Port Talbot, planned for this week," a spokesperson for the company said.

DCX Systems: The company on Monday informed the exchanges about winning a Rs 1,250 crore order from L&T. The order concerns the manufacturing and supply of electronic modules.

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Gandhar Oil Refinery: A foreign material subsidy of the company, named Texol Lubritech FZC, has received an order from Abu Dhabi National Oil Company (ADNOC) for manufacturing, packaging, labelling and making available the Products for ADNOC distribution on contract basis. The order, which will be valid for a period of three years, is expected to be worth Rs 375 crore for each year 2024, 2025, and 2026.

Patanjali Foods: Patanjali Foods’ board has approved the proposal to buy Patanjali Ayurved’s non-food business for Rs 1,100 crore.