Nifty 500 year-end review: Top 10 wealth creators & destroyers of 2025

Year-ender 2025: The Indian equity market wrapped up 2025 on a mixed note, shaped by multiple global and domestic headwinds such as heightened geopolitical unrest, surging commodity prices, interest rate cuts, and concerns around trade and tariff policies, including those linked to US President Donald Trump. These factors weighed on risk appetite and led to uneven market participation through the year.

 

While the benchmark Nifty50 index advanced 9.72 per cent during the period, the broader Nifty500 index rose a relatively modest 5.84 per cent, supporting selective buying and sharp divergence in stock-level returns, data compiled by Business Standard showed.

 

A snapshot of the Nifty500 year-to-date (Y-T-D) performance as of December 29, 2025 highlights a clear contrast between the top wealth creators and the biggest wealth destroyers.

 

Top 10 wealth creators in Nifty500 index

 

Force Motors topped the chart, emerging as the biggest wealth creator of the year with a 191 per cent gain. The stock delivered the highest return among all Nifty500 constituents.

 

L&T Finance Holdings followed with a 121.2 per cent rise, while Hindustan Copper advanced 96.6 per cent over the year. Aditya Birla Capital climbed 95 per cent, closely followed by RBL Bank, which gained 92.5 per cent.

 

“Strong profit growth in both FY2024 and FY2025 has been a key driver behind the rallies in stocks such as Force Motors, L&T Finance and Hindustan Copper,” said G Chokkalingam, founder and head of research at Equinomics Research.

 

Other stocks that featured among the top 10 performers included Gujarat Mineral Development Corporation (up 85.6 per cent), Navin Fluorine International (81.2 per cent), Lauras Labs (79.4 per cent), AU Small Finance Bank (76.5 per cent), and Multi Commodity Exchange of India (MCX), which rose 75.4 per cent during the period.

 

Top 10 wealth destroyers in Nifty500 index

 

At the other end of the spectrum, Tejas Networks emerged as the biggest wealth destroyer in the Nifty500, with its share price declining 61.6 per cent during the year. Praj Industries followed closely, falling 60.6 per cent, while Ola Electric Mobility slipped 58.7 per cent. Brainbees Solutions declined 56.3 per cent, and Vedant Fashions dropped 54.8 per cent.

 

“A sharp hit to profitability dragged down Tejas’ stock price, while a slip into Y-o-Y profit de-growth over the last three quarters, coupled with stretched valuations, led to a steep fall in Praj. Meanwhile, the loss of dominant market share to traditional two-wheeler players was the primary factor behind Ola’s decline,” Chokkalingam said.

 

Other major laggards included Coforge (down 53.2 per cent), Newgen Software Technologies (50.1 per cent), Whirlpool of India (50 per cent), Transformers and Rectifiers (India) (49.9 per cent), and Kaynes Technology India, which fell 46.2 per cent over the year. 

Broader markets outlook for 2026

 

Analysts believe CY2026 could shape up as a favourable year for small- and mid-cap (SMC) stocks, helped by improving valuations and strong domestic flows. “Following the steep correction in the segment, many SMC stocks have individually turned highly attractive from a valuation standpoint. At the same time, inflow of number of new retail investors into capital markets remain very robust,” said G Chokkalingam 

 

He added that systematic investment plan (SIP) inflows are likely to stay strong as bank deposit growth has slowed, with Y-o-Y growth slipping below 10 per cent amid falling interest rates. “The boom in the primary market may also fizzle out as valuations of existing listed companies are becoming more appealing compared to new IPOs,” he said.

 

“Taken together, CY2026 could potentially offer a meaningful wealth-creation opportunity in the SMC space. We believe the next two to three months could be a good window to increase exposure to small- and mid-cap stocks, especially beaten-down names, Chokkalingam said. 

  Disclaimer: The views or investment tips expressed by the analysts in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions