Over the past 16 years, the Indian stock market has witnessed an extraordinary wealth creation journey. From broad indices to individual stocks, several segments of the market have delivered staggering returns for long-term investors.
Starting with sectoral indices, Nifty Auto has emerged as the top-performing index between 2009 and 2025, delivering an impressive return of 1064%. Following closely, the Nifty IT index has provided a return of 1011%, reflecting the robust growth and global expansion of Indian technology companies. Nifty Midcap too has performed strongly with a 997% return, showcasing the growing strength of mid-sized companies in India.
The Nifty FMCG index returned 834% during this period, highlighting consistent demand in the consumer sector. Nifty Pharma delivered a 693% return, driven by India’s growing pharmaceutical exports and domestic demand. Nifty Bank gave investors a healthy 669% return, while Nifty Smallcap provided a 605% return, rewarding those who dared to bet on smaller companies.
The broader market represented by Nifty 50 saw a return of 473% over these 16 years. Nifty Energy returned 328%, Nifty Metal delivered 210%, Nifty PSU Bank offered 169% and Nifty Realty returned 141%, making it the lowest performing sector among the major indices.
While these index performances are remarkable, certain individual stocks have outperformed by miles, becoming true multibaggers. These companies have turned small investments into immense wealth for investors.
Bajaj Finance leads the multibagger list with a jaw-dropping return of 61721%, which translates to 618 times the original investment. This means that an investment of ₹1 lakh in Bajaj Finance in 2009 has grown to over ₹6 crore by 2025. Ajanta Pharma follows with a return of 36441% (365x), and Astral Ltd has delivered 33840% (338x) returns.
UNO Minda rewarded its investors with a 22163% (221x) return, while Eicher Motors provided 17350% (173x), driven largely by the massive success of its Royal Enfield motorcycle brand. KEI Industries returned 14408% (144x), SRF delivered 13669% (136x), and Navin Fluorine offered 13288% (132x) returns. Aegis Logistics and TVS Motor also joined the 100x club, delivering 12819% (128x) and 12095% (121x) returns, respectively.
These multibaggers highlight how the Indian equity market has rewarded patient long-term investors. Despite intermittent volatility, those who identified strong businesses and stayed invested have seen extraordinary wealth creation. From leaders in financial services like Bajaj Finance to manufacturing giants like Astral and Uno Minda, these companies reflect the diverse opportunities available in India’s growth story.
As India continues its economic rise, the stock market remains a powerful tool for wealth generation, provided investors have the discipline and patience to stay invested for the long haul.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Readers are advised to conduct their own research or consult a financial advisor before making any investment decisions.
