The only two Nifty 500 components that have become multibagger stocks—that is, equities that more than double investor wealth—are Force Motors and L&T Finance, according to data from Capitaline.
Many investors are relieved as 2025 comes to an end following a difficult year that taxed their ability to survive as well as their search for multibaggers.
Only last month, in November, did the Nifty 50 reach a new high after more than a year, indicating that the Indian stock market was going through a difficult period. This was true even though most Asian markets had double-digit increases of up to 60% and global stocks enjoyed a year of record highs.
The Nifty 50 index has increased by 10% since Christmas, while the Nifty 500 index as a whole has up by 6.5%. Even more concerning is the fact that only two of the index's 270 stocks have produced multibagger gains in a single year.
Christmas to Christmas: A Difficult Year for Hunters of Multibagger
The only two Nifty 500 components that have become multibagger stocks—that is, equities that more than double investor wealth—are Force Motors and L&T Finance, according to data from Capitaline.
The last closing price of Force Motors shares was ₹18,365, a staggering 176% increase from ₹6657.25 on December 24, 2024. FII shareholding in the company has steadily increased, indicating significant institutional interest and solid financial performance.
The FII stake in Force Motors increased from 7.9% a year ago to 10.3% in the September 2025 quarter, according to Trendlyne statistics. MF holdings, meanwhile, have mostly been steady at 0.7%. In the September quarter of last year, it was 0.5%. At 61.6%, promoters still own a sizable portion of the stocks.
On a year-over-year (YoY) basis, the company's revenue and profit have likewise increased significantly. As of September 30, 2025, its earnings had increased to ₹350 crore, more than double from ₹141 crore over the same period the previous year. In the meantime, revenues increased 8% year over year to ₹2,105.8.
The only other multibagger stock since last Christmas is L&T Finance, whose stock price increased by 119% over that time, reaching ₹303.25 as of the most recent close, up from ₹138.65 on the same day last year.
The L&T Finance stock has a consensus "Buy" recommendation based on data from Trendlyne. Mutual fund investors are quite interested in the company, and its financial performance has been consistent. YoY, MF holding has increased from 7.4% to 10.5%. FII holdings, however, are essentially stable at 6.4% compared to 6.7% in the September quarter of 2024.
Top gainers include Laurus Labs, Vodafone Idea, and RBL.
Laurus Labs leads the list of this year's top gainers with a 91% increase.
|
Company |
Return
(%) |
|
Force
Motors |
175.9 |
|
L&T
Finance Ltd |
118.7 |
|
Laurus
Labs |
91.3 |
|
RBL
Bank |
87.3 |
|
Muthoot
Finance |
87.0 |
|
Aditya
Birla Cap |
86.5 |
|
AU
Small Finance |
75.1 |
|
Authum
Invest |
74.9 |
|
Navin
Fluo.Intl. |
73.9 |
|
Multi
Comm. Exc. |
70.7 |
|
City
Union Bank |
69.6 |
|
Manappuram
Fin. |
69.0 |
|
Shriram
Finance |
68.9 |
|
Godfrey
Phillips |
66.6 |
|
G M D C |
65.5 |
|
Vodafone
Idea |
61.1 |
|
Ashok
Leyland |
59.5 |
|
FSN
E-Commerce |
59.3 |
|
CreditAcc.
Gram. |
57.6 |
|
Garden
Reach Sh. |
57.0 |
|
Maruti
Suzuki |
55.6 |
|
Hindustan
Copper |
55.5 |
|
Choice
Intl. |
54.2 |
|
Anand
Rathi Wea. |
54.1 |
|
UPL |
53.2 |
|
Eicher
Motors |
52.6 |
|
Max
Financial |
52.1 |
|
M &
M Fin. Serv. |
51.7 |
|
TVS
Motor Co. |
51.0 |
|
GE
Vernova T&D |
50.3 |
|
Source:
Capitaline |
Disclaimer: This narrative is solely intended for educational reasons. Before making any investment decisions, we suggest clients to speak with qualified specialists because situations can change and market conditions can change quickly.

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