Against the tide: These 7 stocks delivered over 100% return in 2026 despite market fall; Sterlite Tech rose 469% YTD

NIFTY50 and SENSEX have underperformed so far this year. Both benchmark indices have declined 11.05% and 13.2% respectively in 2026 as combination factors like geopolitical tensions between the US-Israel-Iran, US trade tariffs, surge in crude oil prices and foreign institutional investor (FIIs) outflow impacted the investors sentiments.

But despite high market volatility and sell-off several mid-cap and small-cap stocks buck the trend and have delivered exceptional returns in 2026 supported by strong sector-specific growth drivers.

Key notes

• Except Aditya Infotech, all companies are having market cap below ₹30,000 crore as seen from the above table.
• These stocks outperformed despite high volatility and sell-off in broader markets as investors gave preference to niche companies that operate in one particular segment over large cap stocks.
• Most of these companies operate their business in emerging or niche segments like telecom infrastructure/digital connectivity (Sterlite Technologies, HFCL) and defense/aerospace/AI-driven data centres (Mtar Technologies, E2E Networks).
• Smaller companies like Aeroflex Industries, GE Power India have doubled their market capitalisation supported by surge in order book and operation in niche segments.

Sterlite Technologies delivers eye-popping return of 469% in 2026

Sterlite Technologies emerged as one of the best-performing stocks of 2026, driven by digital infrastructure spending and expansion in order book. The company is a key supplier of optical fibre cables, network solutions, and connectivity products that are essential for 5G expansion, data centre and digital infrastructure setup. The company has also expanded its operations in global markets.

In FY26, the company turned profitable after reporting a loss in the previous two fiscal years. The company reported a consolidated revenue of ₹4,745 crore, a rise of 18.7% YoY and net profit of ₹56 crore compared to net loss of 123 crore.

MTAR Technologies stock surge over 200%

MTAR Technologies which develops and manufactures components for the defense, aerospace, nuclear and clean energy sector saw strong investor interest in 2026. The company received record order inflows of ₹2,453 crore during FY26, including ₹481.6 crore in Q4FY26. Its order book stood at ₹2,581 crore as on 31 March 2026.

Of the total order book, 51.2% came from clean energy-fuel cell, hydel and other businesses, while clean energy-civil nuclear power contributed 26.3% and aerospace and defence accounted for 14%. In FY26, the company reported a consolidated revenue of ₹876.21 crore, a rise of 29% You, while its net profit surged over 76% YoY to ₹94.03 crore.

HFCL shares surge over 160% YTD

Another optical fibre cables manufacturer, HFCL Ltd delivered 164% return in 2026 supported by the company’s growing presence in the domestic telecom infrastructure segment which is undergoing a massive upgrade cycle. The company has faced massive business boost through 5G network upgradation and expansion of rural broadband networks under major state-backed initiatives like BharatNet.

In FY26, the company reported consolidated revenue of ₹4,949 crore (rise of 21% YoY) and net profit of ₹329 crore (90% YoY jump). The company has a record order book of ₹21,206 crore which expanded from ₹7,010 crores in FY23 offering multi-year revenue visibility.

Aditya Infotech shares rose over 400% from IPO price

Aditya Infotech, which operates CP Plus brand, which is India's leading surveillance solutions provider has witnessed strong investor interest following its successful public listing in August 2025.

Surge in domestic demand for surveillance systems amid concerns around public safety, smart cities development, and industrial security has supported the company’s business. In FY26, Aditya Infotech consolidated revenue rose 35% YoY to ₹4,221 crore, while net profit stood at ₹368 crore compared to net profit of ₹351 crore in FY25.

The company anticipates massive demands from the government sectors like Railways and the National Highway Authority. The recent ban on sale of uncertified internet-connected CCTV cameras has phased out major Chinese brands, which has also helped the Aditya Infotech business.

Disclaimer:

The stock discussed in this article is only for educational purposes and not a buy or sell recommendation. Investors are advised to conduct their own analysis and risk due diligence before trading and investing in the stock market. Investments in the securities market are subject to market risk. Read all the related documents carefully before investing.