New Delhi, July 4 -- Against the backdrop of mixed macroeconomic trends, tariff-related uncertainties, and stretched valuations in the Indian stock market, brokerage firm InCred Equities has revealed its top stock picks for July 2025.

In its "high-conviction idea" report, InCred introduced NTPC with an additional recommendation. However, it removed Petronet LNG, Birla Corporation, and Ultratech Cement from the list.

The brokerage firm pointed out that macroeconomic high-frequency data shows weak IIP growth, credit growth and investments. However, better-than-expected progress in monsoon rains is a key positive.

"India received above-normal southwest monsoon rainfall in Jun 2025, with cumulative precipitation being 8.9 per cent higher t...