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Big Indian Groups See Diverging Fortunes as Market Leadership Shifts in 2025
India’s top conglomerates saw uneven outcomes in 2025 as banking, consumer, and capital goods-led groups gained market value, while commodity-heavy and globally exposed businesses lagged amid sector rotation and policy-driven shifts.
India’s largest conglomerates delivered mixed performance in 2025, with sharp divergence in market value trends. While groups with exposure to banking, capital goods, and consumer businesses gained strongly, others faced pressure from commodity cycles, regulatory issues, or slower global demand. Strategic restructuring, capital allocation discipline, and sector rotation played a major role in determining winners and laggards across the conglomerate landscape.