Over half of NSE's Rs 1,000 cr+ m-cap stocks drop in FY25. 10 smallcaps hit hardest

With FY25 set to end in less than two weeks that includes 9 trading sessions, a performance analysis of 1,231 listed companies shows that more than 50% of them have seen their share prices erode so far. Among these, 495 scrips have fallen in double digits up to 71%. Moreover, the 10 biggest losers are all smallcaps.

Only those stocks with a market capitalisation of Rs 1,000 crore or more have been taken into account.


The top losers are Spandana Sphoorty Financial, Gensol Engineering, Fusion Finance, Jai Corp, Sun Pharma Advanced Research Company (SPARC), Sanghvi Movers, Dish TV India Veritas (India), Salasar Techno Engineering and Sterling and Wilson Renewable Energy which have fallen between 71% and 58% in this period.

Apart from this, there are 16 other stocks that have fallen by 50% or more. They include Allcargo Logistics, IndusInd Bank, Dreamfolks Services, Prince Pipes and Fittings, Sula Vineyards, Utkarsh Small Finance Bank, Adani Green Energy, Sindhu Trade Links, Network 18 Media & Investments, Ideaforge Technology, BLS E-Services, ESAF Small Finance Bank, Yatra Online, Praveg, Relaxo Footwears and Sonata Software.

In the PSU stocks, over two dozen stocks have seen double-digit decline in the range of 37% to 12% in FY25, so far. Among them are NMDC, RITES, Punjab National Bank (PNB), Life Insurance Corporation (LIC), Indian Railway Catering And Tourism Corporation (IRCTC), Railtel Corporation Of India, Bharat Heavy Electricals (BHEL), Coal India and Bharat Petroleum Corporation (BPCL).

Adani Group stocks, which generate strong investor interest, have seen most of their stocks fall in this period. Sanghi Industries, Adani Total Gas (ATG), Adani Enterprises, ACC, Adani Energy Solutions, Adani Wilma, Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements have fallen between 40% and 21% in this period.

Among the most tracked private names are Vodafone Idea, Waaree Renewable Technologies, JIO Financial Service, Tata Motors, Yes Bank, Zee Entertainment Enterprises, Asian Paints, Titan Company, Reliance Industries (RIL), Avenue Supermarts (DMart), Larsen & Toubro (L&T), SpiceJet and Dr. Reddy's Laboratories which have fallen by up to 47%.

These stocks have seen corrections because of a variety of reasons which include global and local factors. Among global factors are fears of slowdown in the US economy, Donald Trump’s reciprocal tariffs and exodus of Foreign Institutional Investors (FIIs) to China and developed markets.

Among the local factors are overall weak sentiments, company specific issues, subdued Q3 earnings and relatively higher valuations versus cheaper markets like China.

Nifty’s performance has been dismal as the heartbeat index has just managed to remain positive with 0.80% in FY25 year-to-date. It has been on a falling curve since October.

FY26 outlook

Sudeep Shah, Deputy Vice President & Head of Technical and Derivative Research Desk at SBI Securities is anticipating an outperformance from financial services and metal sectors in the upcoming financial year.

While the benchmark Nifty has declined over 14% from its all-time high, Nifty Financial Services has retraced only 6.50% reflecting relative strength, he said.

Additionally, the ratio chart of Nifty Financial Services against Nifty has given a downward sloping trendline breakout, signaling further outperformance, he added, implying that the current chart structure shows a bullish outlook for the sector.

Meanwhile, Nilesh Jain, Head Vice President, Equity Research Technical and Derivatives at Centrum Broking does not see a decisive trend. "Looking at the market right now, it's difficult to predict anything for one year and nothing looks attractive from a sectoral perspective," Jain said.

(Data Inputs by Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)