Indiabulls shares surged 5% to close at ₹29.61 on Thursday, July 9, hitting the 5% upper circuit limit amid a broader market rebound. According to reports from LiveMint, the recovery came as benchmark indices bounced back on value buying, with the Sensex gaining 238 points (0.31%) to close at 76,741.82 and the Nifty 50 rising 81 points (0.34%) to settle at 23,962.80. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, noted that the stock has resumed its primary uptrend after two sessions of profit booking, rallying sharply from its March low of ₹9 to trade above ₹29.
The company reported a consolidated net profit of ₹194.26 crore for Q1 FY26, marking a significant turnaround from a net loss of ₹164.17 crore in the corresponding quarter last year. As reported by LiveMint, the company's total income more than doubled to ₹418.39 crore in the March quarter from ₹149.15 crore a year earlier. For the full financial year 2025-26, Indiabulls posted a net profit of ₹346.13 crore, reversing a net loss of ₹272.73 crore in FY25, with total income rising to ₹880.78 crore from ₹539.95 crore in the previous fiscal.
During FY26, Indiabulls achieved sales bookings of ₹2,752 crore, selling 909 residential units covering 21.6 lakh square feet. According to LiveMint, the company's residential portfolio is focused on the ₹2 crore to ₹6 crore price segment across luxury and mid-income housing projects in Delhi-NCR, Mumbai, and Ludhiana. The strong performance in the housing market contributed significantly to the company's overall financial turnaround and revenue growth.
Rajesh Bhosale from Angel One identified the recent swing low of ₹26 as the immediate support level for Indiabulls, while noting that ₹34 represents the next key resistance level. As reported by LiveMint, every decline in the stock has witnessed buying interest, indicating strong investor confidence. The technical analyst noted that the stock has resumed its primary uptrend after two sessions of profit booking, suggesting continued momentum potential in the near term.
