Shriram Finance, Maruti Suzuki India, Eicher Motors, Hindalco Industries, and Tata Steel were among over two dozen constituents of the Nifty 50 that outperformed the index in 2025 by a wide margin, delivering returns of up to 72%.
Investor sentiment toward blue-chip stocks improved during the year, as the once-favourite small-cap segment faced EPS cuts amid rich valuations, making the large-cap segment the standout performer compared to both mid- and small-cap averages.
The Nifty 50 concluded 2025 with a 10.5% surge, maintaining its momentum for the tenth consecutive year. During the year, it also scaled a fresh record peak of 26,325 in November after a gap of 14 months.
The rally significantly outperformed the Nifty Midcap 100’s gain of 5.8%, while the Nifty Smallcap 100 index skidded 5.6% — its first annual drop in two years.
32 Nifty 50 stocks deliver positive returns; Shriram Finance leads with 72% surge
Of the 50 constituents of the index, 32 closed the year with positive returns, with 26 of them beating the index, rallying between 11% and 72%, Trendlyne data showed.
Shriram Finance led the charge with a massive surge of 72.4% to ₹996 apiece, marking its fifth consecutive year of gains.
Auto stocks were also top performers, as demand for select counters picked up following the GST overhaul and a series of RBI rate cuts, driving Maruti Suzuki to post a 54% rise and Eicher Motors a 52% rally. Other auto stocks, such as Mahindra & Mahindra, shone with a 23.35% gain.
Metal stocks also hogged the spotlight, with sharp rallies across both base and precious metals pushing prices higher. Hindalco Industries delivered a 47% return, while improving steel spreads triggered a 30% rally in both Tata Steel and JSW Steel.
| Top 10 Njfty 50 outperformers | Returns in 2025 |
|---|---|
| Shriram Finance | 72.4% |
| Maruti Suzuki | 54% |
| Eicher Motors | 52% |
| Hindalco Industries | 47% |
| SBI Life Insurance | 46.3% |
| Bajaj Finance | 45% |
| Bharat Electronics | 36.3% |
| Bharti Airtel | 32.6% |
| Tata Steel | 30% |
| JSW Steel | 30% |
| Source: Trendlyne | |
All major banks delivered strong returns, led by State Bank of India, Kotak Mahindra Bank, Axis Bank, and HDFC Bank, which rallied in the 12–24% range.
NBFC and insurance stocks such as SBI Life Insurance, Bajaj Finance, Bajaj Finserv, and HDFC Life Insurance Company soared 46%, 43%, 30%, and 21.5%, respectively.
Reliance Industries, India’s most valuable company by market capitalisation, delivered its biggest annual gain since 2020, advancing 29% to ₹1,570 apiece.
Other key top performers from the pack included Bharat Electronics, Bharti Airtel, Tata Consumer Products, Titan Company, Asian Paints, Adani Ports & Special Economic Zone, Nestle India, Grasim Industries, Larsen & Toubro, and IndiGo, all of which surged between 12% and 35% in 2025.
Analysts expect a strong turnaround for the Indian stock market in 2026
Domestic brokerage Axis Securities believes key headwinds, such as weak corporate earnings, stretched valuations, and tariff-related concerns, that weighed on market sentiment are likely to ease in 2026.
The brokerage expects this year to be more constructive for the Indian stock market, with the market transitioning from a phase of valuation-led consolidation to an earnings-driven cycle.
Motilal Oswal also remains positive on the Indian stock market and believes equities are well-positioned to recover from the underperformance seen in CY2025, supported by improving earnings visibility, supportive domestic macroeconomic conditions, and an easing geopolitical environment.
It expects Nifty 50 earnings growth to bounce to 9% in FY26E (from 1% in FY25) and further improve to 15% in FY27E and FY28E.
Earlier, global brokerage firms such as Goldman Sachs, JP Morgan, and Jefferies also turned bullish on the Indian stock market, expecting that GST rate cuts and repo rate reductions could boost consumption and drive an earnings recovery.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
