Stocks to Watch July 3: Adani QIP, BPCL deal

Why these stocks are in focus on July 3

A set of corporate actions and operating updates are putting select large caps and sector names on traders’ radars for Friday, July 3. The most prominent triggers in the list include a fund-raise by Adani Enterprises, a cross-border acquisition completion by Bharat Petroleum Corporation (BPCL), and an operating update from Coal India linked to power-sector demand. Separately, Adani Enterprises has also announced a major joint venture plan for a greenfield aluminium project in Odisha, with project configuration and phased investment plans disclosed.

The day’s “stocks to watch” list also mentions names such as Hindustan Zinc, Bajaj Housing Finance, LG Electronics India, PB Fintech, and Titagarh Rail Systems among counters expected to remain in focus, although specific event details were not provided in the supplied text for each of them.

Adani Enterprises: Odisha aluminium JV with IRH (IHC Group)

Adani Enterprises and International Resources Holding (IRH), an IHC Group company through 2PointZero, have formed a 50:50 joint venture for an integrated greenfield aluminium project in Odisha. The proposal carries a stated investment size of $11.5 billion, as per the details provided. The announcement is notable because it outlines both capacity targets and a staged execution plan, which typically shapes investor expectations around capex intensity, timelines, and the scale of downstream opportunity.

The project’s stated components span the aluminium value chain. It is planned to include a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, and a 1 MMTPA downstream manufacturing park. Such an integrated structure often implies a linked set of decisions around feedstock security, energy requirements, and product mix, but the supplied text focuses on capacities and proposed capital outlay rather than operational assumptions.

Adani Enterprises: Two-phase investment plan disclosed

The execution plan has been described as a two-phase project, with investments of ₹66,000 crore and ₹44,000 crore across the two phases. Taken together, that totals ₹1,10,000 crore of phased investment in rupee terms, as per the numbers listed. The presence of phase-wise figures is important because markets frequently track whether large projects have clear sequencing and financing visibility.

The announcement does not include a timeline, commissioning schedule, or funding mix in the provided excerpt. But the combination of disclosed capacity, location, and phase-wise capex is enough to keep the stock in focus, particularly for investors tracking industrial and commodities-linked capex cycles.

Adani Enterprises: QIP to raise up to ₹10,000 crore

Separately, Adani Enterprises has launched a qualified institutional placement (QIP) to raise up to ₹10,000 crore. The QIP was opened on Thursday, with the company aiming to offer as many as 34.7 million shares to large investors. The terms cited also include an indicative price of ₹2,883 per share, based on deal terms obtained by Bloomberg News.

A QIP is typically watched closely because it can affect near-term supply dynamics in the stock and provides a signal on the company’s capital-raising priorities. In this case, the disclosed size and share count create a clear reference point for market participants to track allocation outcomes and any subsequent disclosures.

Coal India: June supplies to power plants rise 5.9% YoY

Coal India said it increased coal supplies to the country’s power plants by 5.9% year-on-year to 51.44 million tonnes in June FY26–27. This compares with 48.57 million tonnes supplied in the corresponding month last year, according to the update. The company attributed the increase to rising electricity demand in the peak summer season.

For investors, such monthly dispatch numbers often serve as a near-term operating indicator, especially when demand conditions are cited explicitly. The update is framed around power-plant supply, which links the operating metric directly to electricity demand and thermal generation requirements.

BPCL: Completes acquisition of remaining stake in IBV

State-run BPCL has completed the acquisition of the remaining 39.14% stake in IBV Brasil Petroleo Limitada (IBV) for ₹2,312 crore. Following the transaction, BPCL’s indirect shareholding in the Brazilian oil and gas company rises to 100%, as stated.

The completion aspect matters because it removes uncertainty around transaction execution. The disclosed purchase consideration and the exact stake percentage provide investors a concrete basis to assess the size of the buyout relative to BPCL’s broader capital allocation choices, without needing to infer missing deal parameters.

Other stocks mentioned for July 3 watchlists

Beyond these three, the broader watchlist in the provided text includes Hindustan Zinc, Bajaj Housing Finance, LG Electronics India, PB Fintech, and Titagarh Rail Systems. Another list references Bajaj Finance, CSB Bank, Ujjivan SFB, Marico, Titagarh Rail, and BLS E-Services, alongside Adani Enterprises.

Because the supplied excerpt does not provide specific corporate actions or financial triggers for these additional names, the focus in the session is likely to remain anchored on the clearly defined events: Adani Enterprises’ QIP and JV plan, Coal India’s supply update, and BPCL’s acquisition completion.

Key facts at a glance

Market data points cited for Adani Enterprises

The supplied text also includes market and fundamentals snapshots for Adani Enterprises from different sections. One table lists Adani Enterprises Ltd. with CMP ₹2,088.45 and market cap ₹2,69,970.26 crore, alongside metrics such as EPS 118.43, book value 483.63, ROCE 25.63%, ROE 27.93%, debt-to-equity 0.47, P/E 17.63, and dividend yield 0.06%. Another market snippet lists Adani Enterprises at ₹3,074.20 with a market cap of ₹3,85,549.22 crore, and a separate line states the stock price as ₹3,177.50 as of Jul 03, 2026.

Since these figures appear as separate cited snapshots, investors typically treat them as point-in-time data from the respective sources and timestamps. The core watchlist triggers for the day, however, remain the QIP terms and the disclosed project and deal announcements.

What to track next

For Adani Enterprises, the next key datapoints are likely to be QIP allocation and final pricing, as those directly relate to the announced size, share count, and indicative price reference. For the Odisha aluminium project JV, further clarity would typically come through additional disclosures on timelines and approvals, but those details are not included in the provided text.

For Coal India, investors may track whether the cited demand conditions persist beyond the peak summer season and how monthly supply trends evolve, given the operating update’s explicit linkage to electricity demand. For BPCL, the completion of the IBV stake buyout closes the transaction leg disclosed, shifting attention to integration and future reporting, subject to what the company communicates in subsequent updates.

Conclusion

Friday’s watchlist is driven by three clearly defined developments: Adani Enterprises’ QIP to raise up to ₹10,000 crore, Adani Enterprises’ Odisha aluminium JV plan with disclosed capacities and phased investment, and BPCL’s completion of its IBV buyout, alongside Coal India’s higher June supplies to power plants. The next milestones to watch are QIP outcome details, additional project disclosures for the Odisha venture, and follow-through updates from the energy and coal names as new operating data emerges.