A year-long sell-off has cut the value of at least 63 listed companies by more than 50%, with losses spanning sectors from renewable energy to technology and financial services.
India’s broader stock market has been rough enough over the past year to erase more than half the value of at least 63 listed companies since the previous Diwali, according to an analysis of market data reported by ETBFSI. The losses have been spread across renewable energy, infrastructure, consumer businesses, technology and financial services, underscoring how broad the sell-off has been rather than confining it to a single sector.
Among the hardest hit were some well-known names. ETBFSI said Elitecon International fell 96%, while Reliance Infrastructure, Kothari Industrial Corporation and Fischer Medical Ventures also suffered steep declines. Swiggy, KPIT Technologies, Kaynes Technology, Inox Wind and Reliance Power were all down by more than 50%, showing that the damage has extended well beyond smaller or less liquid counters. The analysis focused on companies with market capitalisations of at least Rs 1,000 crore.
The weakness in individual stocks fits a wider pattern of caution in Indian equities. NDTV Profit reported that a separate review of Nifty 500 shares found a cluster of stocks that had dropped by at least half over the samvat year, with names such as Awfis Space Solutions, KEC International and H.G. Infra Engineering also among the laggards. That report pointed to global uncertainty, foreign institutional investor selling and concern over earnings as key pressures on sentiment.
Foreign flows have remained an important part of the story. Mint reported that overseas investors sold Indian shares worth trillions of rupees during the first nine months of 2026, even as valuations adjusted. The Economic Times has also reported heavy foreign selling in shorter bursts, with analysts citing higher crude prices, stronger global bond yields, inflation worries and concern over India’s current-account deficit as factors weighing on risk appetite. Together, those pressures help explain why a broad market correction has translated into such severe losses for a long list of individual stocks.
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