NIFTY50 near record high levels, but these stocks are far below their record high price; check details

NIFTY50 is trading near record-high levels after September 2024. The current rally in the index is primarily led by banking heavyweights like HDFC Bank, index heavyweights like Reliance and other stocks. The index breadth remains neutral with 15 stocks from the index at high levels and 32 in the mid levels, and 3 in the low zone. The index has regained the lost territory by gaining nearly 17% from the 52-week low levels. However, few stocks still trade nearly 20% lower than the record high levels last touched in September-October 2024.

TCS

Shares of India’s largest Information technology company, Tata Consultancy Services shares are trading 22% below their 52-week and record high levels of ₹4,454 apiece, last touched in August 2024. Since then, the shares have seen a 31% drop in share price to hit a 52-week low of ₹3,029 apiece on the NSE. The shares have been under pessimism due to a host of factors, primarily due to recessionary fears in the US. Trade war headwinds are impacting business sentiment. The shares were leading the rally in 2024 for the Index, but took a back seat in the current rally of the markets.

ITC

ITC Ltd, India’s leading FMCG company, too underperforming the index by a wide margin. The shares are trading at 5.2% lower in 2025 on a YTD basis and 14.3% lower from their 52-week and record high levels of ₹482 apiece adjusted after the demerger of the hotel business. The FMCG industry has seen headwinds of higher inflation, lower urban consumption, which have impacted the overall earnings of the industry. However, experts believe that rate cuts and tax cuts could help urban consumption revive in Q2FY26.

Hero MotoCorp

One of the country's largest two-wheeler manufacturers has witnessed a strong downtrend since the end of September 2024, when it touched a record high of ₹6,093 apiece on the NSE. The shares have since seen a sharp correction of 45% to a 52-week low of ₹3,704 apiece. Before that, shares had rallied nearly 3x from March 2023 to September 2024, which led to some profit booking at higher levels. In addition, weak earnings and slower demand for two-wheelers led to this fall.

Trent

Shares of Trent Ltd, which houses brands like Westside, Zudio, and Star Bazaar, were one of the top wealth generators in 2023-24 have seen a sharp correction since September last year. Trent's share price gained more than 500% in 1.5 years it reaching record high levels of ₹8,337 apiece in September 2024, when NIFTY50 too hit the record high levels. Since then, shares have dropped nearly 45% to hit 52-week low levels of ₹4,484 apiece on the NSE. The correction was primarily triggered due to overvaluation concerns and profit booking after a sharp rally. Despite the correction, shares are still valued at 152x price-to-earnings vs its industry average of 52x.

Disclaimer: This article is for informational purposes only and must not be considered investment advice from Upstox. Past returns are not indicative of future performance. Please consult with a financial advisor before trading and investing.