TCS To Trent: These Big Nifty Stocks Still Haven’t Recovered Even As Sensex, Nifty Hit Record Highs

India’s benchmark indices climbed to new peaks on Thursday, with both Nifty and Sensex marking their highest levels on record after recovering from a steep correction earlier this year.

The Nifty index touched 26,295.55 in trade, surpassing its previous record of 26,277 set in September 2024. The Sensex also hit an all-time high. The move follows a rebound in the market after both indices dropped more than 15% from their earlier peak recorded on April 7, 2025. They have since rallied about 18% to reach today’s highs. It took Nifty roughly 289 trading sessions to reclaim a new high from its September 2024 peak, the second-longest such recovery period in the past decade.

Despite the surge, several major stocks remain below their April levels. Six Nifty companies continue to trade lower compared with Nifty’s April 7 low.

Trent has fallen more than 10% and is currently around a 52-week low. The retailer’s topline increased 16%, but growth in same-store sales was minimal. Higher expansion costs and the launch of new formats, including Burnt Toast, have trimmed margins. The company also faced a slight drag from weak consumption and upgrades in its STAR grocery business.

NTPC and Power Grid have each declined since April on weak quarterly performance. NTPC has dropped more than 7% to a six-month low, while Power Grid is down around 5%.

TCS has slipped about 4% in the same period. The fall comes as the Trump administration imposed tighter H-1B visa restrictions. TCS was the largest recipient of H-1B visas last year.

ITC and Coal India remain marginally lower, down 0.8% and 0.3% respectively, compared with Nifty’s April low.

The broader index gains reflect renewed buying interest, even as select heavyweights continue to weigh on the benchmark’s full recovery.