D-Street has been in a downturn, falling on 21 occasions out of 36 trading days so far in 2025. The correction has erased market capitalisation of BSE 500 listed companies by Rs 34 lakh crore to Rs 353.31 lakh crore from Rs 387.18 lakh crore on December 31, 2024.
An analysis of the BSE 500 companies reveals 447 stocks witnessing cuts in their market capitalsiation on a year-to-date basis. Just 53 stocks have managed to remain above the December 31, 2024, m-cap on a closing basis.
Stocks with significant market cap decline include Life Insurance Corporation (LIC, -Rs 84,059 crore), Trent (-Rs 71,076 crore), State Bank of India (SBI, -Rs 65,194 crore), Zomato (-Rs 59,832 crore), Tata Consultancy Services (TCS, -Rs 59,499 crore), HDFC Bank (-Rs 58,833 crore), HCL Technologies (-Rs 56,322 crore), Siemens (-Rs 55,272 crore), Larsen & Toubro (L&T, -Rs 50,852 crore) and Varun Beverages (-Rs 50,812).
The analysis does not include ITC which has seen its market capitalisation ebb by over 91,000 crore this year — the biggest erosion in market cap recorded in any stocks in 2025. But it was partly to do with its hotel business getting carved out, apart from weak earnings, and subdued market sentiments.
ITC Hotels made its market debut on NSE and BSE at Rs 180 and Rs 188 per share, respectively, commanding a market valuation of Rs 39,126.02 crore at listing.
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