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Private bank shares jumped for second consecutive trading sessions.
At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 264.33 points or 0.34% to 78,551.41. The Nifty 50 index surged 66.15 points or 0.27% to 24,494.95.
In the broader market, the BSE 150 MidCap Index shed 0.26% and the BSE 250 SmallCap Index gained 0.67%.
The market breadth was weak. On the BSE, 1,513 shares rose and 2,432 shares fell. A total of 195 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.71% to 11.73. The Nifty 28 July 2026 futures were trading at 24,530.20, at a premium of 34.25 points as compared with the spot at 24,495.95 .
The Nifty option chain for the 28 July 2026 expiry showed a maximum call OI of 70.6 lakh contracts at the 25,000 strike price. A maximum put OI of 74.4 lakh contracts was seen at the 24,000 strike price.
Buzzing Index:
The Nifty Private Bank index rose 0.29% to 28,430.60. The index rose 0.76% in the two consecutive trading sessions.
IndusInd Bank (up 1.72%), RBL Bank (up 1.03%), HDFC Bank (up 0.9%), Axis Bank (up 0.52%) and ICICI Bank (up 0.08%) advanced.
Yes Bank (down 0.74%), Kotak Mahindra Bank (down 0.25%) and Federal Bank (down 0.23%) declined.
Stocks in Spotlight:
TARC surged 9.35% after the company reported a strong operational performance for the quarter ended 30 June 2026, driven by robust demand across its premium housing portfolio. The company reported quarterly pre-sales of Rs 602 crore in Q1 FY27, nearly three times the level recorded in the corresponding quarter last year
Varun Beverages (VBL) declined 2.70%. The company announced that its subsidiary, VBL Industries (Kenya), has entered into an agreement to acquire the value-added dairy beverages, juices and packaged drinking water business of Devyani Food Industries (Kenya) (DFIL Kenya).
Collections stood at Rs 305 crore with YoY growth of 80%, supported by solid customer conversions, collection efficiency resulting in strong cash flow visibility.
The company said it continues to make steady progress on the construction of its ongoing projects while advancing the design and planning of its upcoming luxury and ultra-luxury developments.
Amar Sarin, managing director & chief executive officer (CEO), TARC, said, “The company has commenced FY2O27 on a strong note, with excellent sales momentum and collections reflecting strong demand for differentiated luxury, curated residences. We remain focused on execution excellence, customer experience and disciplined capital allocation, while advancing our next phase of luxury and ultra-luxury developments. With a robust portfolio of ongoing projects and a strong upcoming launch pipeline, we remain well positioned to deliver long-term growth.”
TARC is focused on developing luxury residential projects in New Delhi and Gurugram. The company reported consolidated net profit of Rs 1.62 crore in Q4 FY26 compared with net loss of Rs 104.52 crore in Q4 FY25. Revenue from operations climbed more than 17 times to Rs 208.70 crore from Rs 11.82 crore.
For the full year,net profit reported to Rs 19.07 crore in the year ended March 2026 as against net loss of Rs 231.22 crore during the previous year ended March 2025. Sales rose 879.04% to Rs 329.84 crore in the year ended March 2026 as against Rs 33.69 crore during the previous year ended March 2025.
During the quarter, the company launched TARC Tripundra, TARC Kailasa and TARC lshva in New Delhi, taking the total gross development value (GDV) of these projects to around Rs 9,000 crore.
On annual basis, the company recorded sales of Rs 1,373 crore in FY26, with the launch of additional developments, the company witnessed strong sales traction and enhanced business momentum. The cash flows stood at Rs 1,132 crore in FY26.
Looking ahead the company said that its next phase of growth has already commenced with the launch of lshvara at TARC lshva, Gurugram. Building on this momentum, it plans to unlock its broader pipeline across Delhi by looking to add ultra luxury developments in FY27, marking the beginning of a new phase of developments in a supply constrained market. With a focused approach of Differentiated Luxury Curated Residences, the company aims to set new benchmarks in the luxury residential segment.
Amar Sarin, managing director & CEO, TARC, said: “FY2O26 marks a pivotal phase of progress for TARC. The commencement of handovers at TARC Tripundra is a key milestone, showcasing the successful execution of a distinctive development in the capital.
We have also launched most premium tower inventory along with a new Experience Gallery and Sample Residence at TARC Kailasa, offering prospective buyers an immersive preview of Large Format Residences. Furthermore, the unveiling of lshvara at TARC lshva, has expanded our luxury portfolio, underscoring TARC's commitment to differentiated design, innovation and curated luxury residences across all our developments.
We are currently working on expanding our development portfolio to be launch ed in FY2O27 through a curated pipeline of luxury and ultra luxury developments, while continuing execution and financial discipline. This approach positions us to deliver long-term value.”
TARC is focused on developing luxury residential projects in New Delhi and Gurugram. The company’s consolidated net loss narrowed to Rs 21.02 crore in Q3 FY26 compared with net loss of Rs 28.67 crore in Q3 FY25. Revenue from operations zoomed 310.81% YoY to Rs 38.37 crore in Q3 FY26.