Uncertainty and caution – Indian equity markets navigated these pendulum swings with gusto last year.
A clutch of Gujarat-based companies managed to turn turbulence into returns, according to a report.
State-run GMDC Ltd emerged as the year’s standout performer with an 88% gain.
Adani Power Ltd followed with returns of about 35%. AIA Engineering, Adani Ports and SEZ, and Adani Transmission delivered gains in excess of 18%, the report mentioned. In an uneven market, investors did enjoy some relief.
Market participants told the media outlet that the year went by shaped up as a consolidation phase for Indian equities.
Renewed tariff concerns from the US, ongoing geopolitical tensions and elevated valuations combined to create a difficult backdrop. It kept volatility high and limited broad-based upside.
Even so, the benchmark Nifty managed to close nearly 10% above its previous year’s level, marking the 10th straight calendar year of positive returns for the index.
There was little enthusiasm across mid-cap and small-cap stocks. These remained largely subdued through the year. Equity investors found few reasons to celebrate. However, a narrow set of Gujarat-headquartered companies bucked the trend and delivered what market watchers described as handsome returns. It was supported by clearer earnings visibility than the broader market.
Experts tracking regional trends said Gujarat-based companies showed resilience despite a challenging global economic environment. Strong fundamentals allowed these firms to generate returns that exceeded benchmark indices, even as markets struggled to find direction.
As the calendar turns, analysts said some Gujarati companies are entering the new year with a distinctly positive outlook for future performance. After a year dominated by volatility rather than conviction, these companies ended 2025 doing the unfashionable thing in difficult markets, which is steadily outperforming.
Also Read: Buoyant markets spell bonanza for 14 Gujarat Companies. Share prices doubled. https://www.vibesofindia.com/buoyant-markets-spell-bonanza-for-14-gujarat-companies-share-prices-doubled/
