NIFTY50, SENSEX remain rangebound in midday session; TCS, Varun Beverages, IndusInd Bank among buzzing stocks

The Indian stock market was trading higher in a volatile session on Tuesday, July 29, after opening negative. The equity benchmark indices were trading almost flat in the afternoon session as investors remained cautious amid trade deal talks and June quarter earnings. The continuous outflow by the foreign investors also kept the participants worried.

On the contrary, Axis Bank (-1.42%), Bharat Electronics (-1.31%), TCS (-1.22%), Eternal (-1.19%), and IndusInd Bank (-1.15%) were the biggest losing stocks in the midday session.

Buzzing stocks on July 29: Check List

Fertiliser firm Paradeep Phosphates shares zoomed 15% and hit an intraday high of ₹228.25 apiece as the company posted robust earnings for the June quarter.

The stock touched its 52-week high of ₹234.39 per share on Tuesday as the company witnessed a multifold jump in its consolidated net profit and margin for Q1 FY26.

The company posted a consolidated net profit at ₹256 crore for the quarter ended June 30 of the current fiscal year as compared to ₹5.4 crore for the same quarter of the previous fiscal year, marking a multifold jump.

Its revenue from operations surged 58% to stand at ₹3,754 crore year-on-year (YoY) for the quarter under review as compared to ₹2,377 crore in Q1 FY25.

At the time of writing, shares of Paradeep Phosphates were trading at ₹222.52 apiece on the National Stock Exchange, soaring 11.72%.

IndusInd Bank shares surged over 2% to hit an intraday high of ₹818.85 apiece on Tuesday as the lender’s board assured that there will not be any more financial impact of past frauds. The private bank declared its June quarter earnings on Monday.

IndusInd Bank has reported a 68.21% year-on-year (YoY) decline in its standalone net profit to ₹684.25 crore in the first quarter of the 2025-26 financial year (Q1FY26).

In the corresponding period a year ago, its net profit stood at ₹2,152.16 crore. The bank had reported a net loss of ₹2,236 crore in the previous quarter (Q4 FY25).

Its net interest income (NII) stood at ₹4,640 crore in the June FY26 quarter, falling 14.20% YoY from ₹5,408 crore in Q1FY25. Its net interest margin (NIM) contracted to 3.46% from the 4.25% it had reported in the year-ago period.

Infrastructure major Larsen & Toubro (L&T) on Tuesday bagged an ultra-mega order for its Hydrocarbon Offshore business. The order was from a client in the Middle East to L&T Energy Hydrocarbon Offshore.

The order worth over ₹1,500 crore encompasses multiple offshore packages, and the scope includes engineering, procurement, construction, and installation of offshore structures, along with the upgrade of existing facilities.

L&T will declare the first quarter FY26 results later today.

Last seen, L&T shares were trading at ₹3,453.60 apiece on NSE, rising 0.92%.

Shares of Tata Consultancy Services (TCS) remain under pressure as the IT major said it will slash 2% of its workforce. According to reports, after layoffs, there is expected to be a hiring freeze in the company.

TCS will freeze hiring of experienced professionals and pause annual salary increases globally, The Economic Times reported on Tuesday.

The development has fuelled anxiety in the Indian IT industry, already contending with the growing impact of generative AI and project slowdowns.

TCS shares were one of the top laggards on the 50-share index. At the time of writing the article, the stock was trading at ₹3,047.2 apiece, declining 1.04%. It had touched an intraday low of ₹3,041.20 per share on NSE.

Shares of the company were trading 6.11% higher at ₹991.45 apiece on NSE as various brokerages have upgraded their outlook for the firm.

Last week, Tata Chemicals reported an 80.57% increase in consolidated profit after tax (PAT) to ₹316 crore for the quarter ended June 30. The company's PAT was Rs 175 crore during the corresponding period of the previous fiscal.

Its revenue from operations declined nearly 2% during the quarter under review to ₹3,719 crore, mainly due to the cessation of Lostock operations in the UK.

The company's overall performance is resilient, driven by strong operating performance and disciplined cost management despite lower realisations, mainly due to pricing pressure in all geographies, Managing Director and CEO R. Mukundan had said.

Shares of Varun Beverages surged nearly 3% after the company announced its second-quarter earnings.

The beverage company reported a 5% increase in its standalone net profit to ₹1,325.4 crore in the second quarter of the calendar year 2025 as compared to ₹1,261.8 crore a year back, according to a regulatory filing on Tuesday.

Its revenue from operations declined 2.5% to ₹7,017.3 crore in Q2 CY25, compared to ₹7,196.8 crore a year back.

EBITDA margins increased by 82 basis points (bps) in the quarter under review to 28.5% from 27.7% in Q2 CY2024, despite an increase in fixed overheads due to new capacity being commissioned at four greenfield plants in India, which all are yet to yield incremental volumes.

Last seen, Varun Beverages shares were trading at ₹500.20 apiece, rising 2.76% on NSE.

Shares of PSU firm GAIL (India) gained 2.6% on Tuesday to hit an intraday high following the company’s June quarter earnings. The state-run gas utility reported a net profit of ₹2,382 crore for the first quarter of the current fiscal year (Q1 FY26), down 25% from ₹3,183 crore posted in the year-ago period.

Sandeep Kumar Gupta, Chairman and Managing Director of GAIL, stated that the company spent a capital expenditure of ₹3,176 crore in the quarter, mainly on pipelines, petrochemicals, and equity investments in joint ventures.

GAIL India's revenue was slightly up by 2% at ₹35,429 crore during the reporting quarter, as against ₹34,822 crore in Q1 FY25. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) were at ₹3,669 crore in the July quarter, down 23.4% as compared to ₹4,790 crore.

At 12:40 PM, GAIL shares were trading 1.01% higher at ₹182.45 apiece on the NSE.