The midcap stocks were in focus due to the valuation concerns and also their relative underperformance in 2025. The Nifty Midcap 100 has delivered a return of 5.9% over the last one year, underperforming the benchmark (Nifty 50) by over 3%. Here’s a list of five stocks that have fallen the most during the last one year.
Oracle Financial Services
Oracle Financial Services Software has been the worst stock in the Nifty Midcap 100 index over the past one year. The stock has lost 36.7% during the time frame. The stock price has declined 14.25% in the previous six months.
Oracle Financial Services Software, which is an Indian subsidiary of Oracle Corporation, is involved in financial and insurance technology. The stock has a P/E ratio of 28.42x and a PB ratio of 9.15x as of December 26. The company has given a dividend yield of 3.42 per annum.
Kalyan Jewellers India
The gold outperformed the equity indices in 2025, and gold & jewellery stocks came into focus. However, Kalyan Jewellers India is one of the five stocks in the Nifty 100 index that have fallen the most. The stock price has erased 32.31% of investors’ wealth over the previous one year. The stock has lost 8.6% value in the past one year.
From the start of 2025, Kalyan Jewellers was surrounded by controversies. First, there were allegations that the company bribed Motilal Oswal’s fund managers to buy shares. However, the company’s executive director, Ramesh Kalyanaraman, dismissed them during an analyst call and said these rumours are ‘very absurd’.
Premier Energies
The integrated solar cell and solar module manufacturing has fallen by 31.33% in the past one year. The stock has dropped almost 14% in the last six months. Currently, Premier Energies is seeing a P/E of 33.55x. Over the previous one year, the public shareholding has reduced to 17.72% in September 2025 from 25% in September 2024.
Recently, Premier Energies acquired a 34.21% equity stake in Transcon Ind for a consideration of Rs 250 crore. On a private placement basis, Premier Energies acquired 52,009 equity shares of Transcon Ind via a preferential allotment.
Dixon Technologies
The shares of Dixon Technologies have pulled back by 31.11% in the last 12 months. The stock has slipped 12.6% in the last six months. It has dropped 32% in the past three months. Despite that, Motilal Oswal still finds value in the stock and has picked the Indian multinational electronics manufacturing services (EMS) company as one of the top picks for 2026.
In Q2 FY26, Dixon Technologies’ net profit surged around 72% year-over-year to Rs 670 crore, and revenue climbed nearly 29% YoY to Rs 14,855 crore.
Supreme Industries
Supreme Industries‘ share price has fallen 30.56% over the last 12 months. The stock price has declined 25.3% in the past six months. Over the previous 5 years, the share price of Supreme Industries has gained a 15% CAGR.
Foreign Institutional Investors (FIIs) have pulled back money from the counter. In September 2024, FII holdings in the stock stood at 25.93%, which had fallen to 20.66% as of September 2025.
The midcaps have broadly underperformed the large caps in 2025. However, going forward in 2026, the expectation is that midcaps may see a better year backed by a pickup in earnings growth.
