YES Bank, Tata Steel lead with double-digit returns while ITC, IRCTC, and Suzlon disappoint retail investors
Mixed Fortunes for Retail Investor Favorites
In 2025, retail investors have seen divergent outcomes across their most-held stocks. Data from AceEquity shows that only eight out of 15 popular retail holdings outperformed or matched short-term fixed deposit returns, highlighting the volatile nature of equity markets this year.
- Big gainers included Tata Steel, Reliance Industries, and YES Bank.
- On the losing end were ITC, IRCTC, and Suzlon Energy, each down more than 10%.
Tata Motors: Most Held, but Underperforms
With over 66.25 lakh retail investors, Tata Motors remains the most widely held stock by individual investors. However, the stock declined 3% year-to-date in 2025, underperforming the 4% rise in the NSE Nifty.
- Analysts cite tariff impacts, a cyberattack, and JLR production issues as key pressures.
- Despite strong domestic demand and stable international markets, growth visibility for JLR remains muted.
- Brokerages have maintained a neutral-to-reduce stance due to limited near-term upside.
YES Bank: A Resilient Comeback Story
YES Bank surprised many with an 11% gain in 2025, making it one of the top-performing retail favorites.
- A major catalyst was Sumitomo Mitsui Banking Corporation’s acquisition of a 13.19% stake (₹8,888.97 crore) from SBI.
- With 62.64 lakh retail investors, confidence in YES Bank has improved as strategic investments bolster its capital and long-term outlook.
Vodafone Idea: Modest Gains Amid Key Legal Risks
Vodafone Idea (VIL), held by over 60.24 lakh investors, saw a 7.43% increase, rising from ₹7.94 to ₹8.53 in 2025.
- The gain was driven by easing subscriber losses.
- However, investor sentiment remains cautious due to the Supreme Court hearing on AGR dues, which could significantly impact VIL’s future.
Tata Steel Shines with Strong Fundamentals
Tata Steel, with 57.44 lakh retail holders, delivered a robust 21% return in 2025.
- Analysts credit improved domestic demand and government-imposed safeguard duties, which supported pricing.
- Despite global demand uncertainties and Chinese competition, the stock trades at attractive valuations (6.2x/5.6x FY27/28E EBITDA).
- PL Capital maintains an Accumulate rating with an upgraded target price of ₹181.
Suzlon Energy Falls, But Long-Term Potential Emerges
Suzlon Energy dropped 11.3% in 2025, disappointing investors. However, brokerages like MOFSL have turned cautiously optimistic.
- Target price revised to ₹80, supported by local content mandates (ALMM) and a strong order book.
- Improvements in execution, land acquisition, and EPC capabilities position Suzlon for a potential turnaround.
ITC and IRCTC Lead Decliners
Two consumer and infrastructure-focused favorites, ITC and IRCTC, both tumbled over 10-16% in 2025.
- Weak investor sentiment, regulatory challenges, and profit booking have impacted performance.
- IRFC also declined 16%, making it one of the worst performers in the group.
Flat Performers and Modest Gainers
- Tata Power and Jio Financial stayed largely flat, offering limited returns.
- HDFC Bank and IDFC First Bank each gained 9%, buoyed by strong credit growth and stable asset quality.
- State Bank of India, Reliance Industries, NTPC, and NHPC posted modest gains between 2–13%, offering stability amid broader market volatility.
In 2025, retail-favorite stocks saw wide disparities in performance. While YES Bank and Tata Steel delivered strong double-digit returns, others like ITC, IRCTC, and Suzlon left investors disappointed. The data underscores the importance of selective investing, even in widely-held names.
