These six NIFTY stocks defied the February market crash; here’s why

Indian markets witnessed one of the biggest losing streaks in nearly three decades in February, as they closed in the red for a fifth consecutive month. The broader market indices witnessed more pain as their stocks crashed more than 30% from record high levels. The NIFTY50 and SENSEX fell 6% in February, which was also the steepest of five months of correction.

Historically, the period after such a steep correction has also seen a sharp recovery. Most of the sectoral indices closed in the red with losses of up to 14% in February. The NIFTY Smallcap 100 fell over 13%, and the Midcap 100 lost over 11% during the month, the most after March 2020.

However, despite such a broad-based fall, few stocks defied the market crash and gained up to 13%.

Shriram Finance

Shares of Shriram Finance gained more than 14% in February, making the stock the top gainer in the NIFTY50. The rally was driven by multiple factors, including strong Q3 results, in which the net profit for the quarter jumped 14% YoY (excluding exceptional gains). In addition, the Budget’s consumption boost provided a much-needed fillip to the stock price as the company operates in the automobile finance segment. In addition, RBI’s regulatory relief to the NBFC risk weights also added a much-needed boost to the investor sentiments.

Hindalco Industries

Hindalco Industries' share price gained 8.7% in February, against a 6% decline in the NIFTY50. The company reported strong earnings growth in Q3FY25, as its net profit jumped 60% YoY to ₹3,735 crore and revenue rose 11% to ₹58,390 crore on better realisations and strong margin expansion. Apart from strong earnings growth, the price of aluminium rose more than 28% in the last six months, which continues to provide positive momentum to the stock.

Bajaj Finance

Shares of Bajaj Finance hit a new lifetime high of ₹8,739 apiece in February, as the stock gained 7.7%. The Budget’s consumption boost and relaxation of RBI’s regulatory risk weights on the micro-finance category boosted the stock’s performance. In Q3FY25, the company posted its highest-ever net profit of ₹4,305 crore, which grew by 18% YoY.

Bajaj Finserv

Bajaj Finserv's share price gained 4.9% in February, defying the negative news in the market. The company’s subsidiary Bajaj Finance, posted strong gains in February by hitting new record high levels. The company's growth was significantly propelled by the RBI's rate cut and the budget's consumption boost. These two major developments are expected to stimulate the retail lending space in which the company operates.

JSW Steel

JSW Steel's share price rose 4.8% in February. The stock was also the top gainer in the NIFTY Metal index, which ended 2.5% lower for the month. Key positive triggers included the RBI rate cut, a boost for infrastructure in the Budget and a pickup in the real estate sector in China, which is a major steel consumer.

Tata Steel

The Tata Group company’s metals manufacturers' share price gained 4.3% in February. The rise in the share price came despite a 44% drop in the net profit for the quarter at ₹248 crore. Sectoral tailwinds like a potential safeguard duty on steel imports and the infrastructure push in the Budget propelled the stock to become one of the top gainers in the NIFTY50 for February.

Apart from the above six stocks, Axis Bank, HDFC Bank and Kotak Mahindra Bank also closed the month in the green with gains of up to 1% amid a broader market rout. These large-cap stocks show investor preference for safer options during uncertain market conditions.