Nifty 50 Rose 1.91% in October. Which Stocks Led the Recovery?
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TCS gained 22.04% in October 2026, while the Nifty 50 rose 1.91% to close at 23,053.10. Technology stocks featured prominently in the recovery, with Tech Mahindra and HCL Technologies also recording double-digit monthly gains.
But the monthly results look different alongside annual performance. TCS remained 17.55% lower over one year, despite its October rally. HCL Technologies gained 16.11% during the month, while its annual return remained negative at −7.85%.
Tech Mahindra combined a strong October with a positive annual return and a price close to its 52-week high. That placed it first in the four-measure comparison below.
The strongest monthly gains within the combined top 20
Among the stocks appearing in the combined top 20, TCS delivered the largest monthly gain, followed by Tech Mahindra and HCL Technologies.
| Stock | October 2026 price return |
|---|---|
| TCS | +22.04% |
| Tech Mahindra | +17.51% |
| HCL Technologies | +16.11% |
| Trent | +15.09% |
| BSE | +13.53% |
| Nifty 50 | +1.91% |
↔ Scroll horizontally to view the full table.
The stock entries are the five strongest monthly performers within the combined top-20 table below, rather than a separate ranking of all 50 constituents.
These monthly gains capture the latest movement. They leave out how much a stock had gained or lost before October.
Trent, for example, rose 15.09% during the month, yet its one-year return remained −4.61%. BSE gained 13.53% in October and retained a much larger 43.70% annual gain.
How the broader performance comparison works
A monthly return measures the price change between two dates. Annual performance and the 52-week range help show where that movement fits within a longer period.
Let’s use a simple method to bring these views together:
- October return: Compare each stock’s monthly price performance.
- One-year return: Compare its price performance over the preceding year.
- Above the 52-week low: Measure how far the October-end price stood above its yearly low.
- Below the 52-week high: Measure how far the October-end price stood below its yearly high.
- Combined score: Rank the stocks on each measure and average the four ranks, giving each equal weight.
Higher returns and a larger recovery from the low receive better ranks, as does a smaller distance below the high.
A lower combined score ranks higher. This method organises the historical price comparison. It is not an official NSE ranking or an assessment of investment suitability.
The top 20 by combined performance score
Tech Mahindra ranked first across the four measures, followed by Adani Ports and Kotak Mahindra Bank.
| Company | October return | One-year return | Above 52-week low | Below 52-week high | Combined score |
|---|---|---|---|---|---|
| Tech Mahindra | +17.51% | +24.90% | 37.32% | 3.41% | 4.25 |
| Adani Ports | +2.87% | +26.89% | 43.19% | 2.17% | 6.00 |
| Kotak Mahindra Bank | +10.70% | +7.99% | 33.60% | 0.28% | 6.50 |
| Eternal | +7.39% | +4.34% | 61.64% | 0.82% | 6.75 |
| Dr. Reddy’s Laboratories | +9.65% | +12.46% | 22.80% | 4.45% | 8.00 |
| BSE | +13.53% | +43.70% | 50.91% | 21.06% | 9.00 |
| Apollo Hospitals | +3.46% | +8.45% | 26.16% | 6.86% | 9.50 |
| Trent | +15.09% | −4.61% | 38.18% | 11.25% | 11.00 |
| ICICI Bank | +5.77% | +2.61% | 17.72% | 5.54% | 13.75 |
| HCL Technologies | +16.11% | −7.85% | 38.65% | 19.77% | 13.75 |
| Bharti Airtel | +12.33% | −4.48% | 14.33% | 9.23% | 15.50 |
| JSW Steel | −0.59% | +2.98% | 16.10% | 7.77% | 16.75 |
| Eicher Motors | +0.98% | +4.80% | 12.08% | 12.27% | 16.75 |
| Larsen & Toubro | +2.97% | −2.90% | 17.75% | 12.80% | 16.75 |
| Titan | −3.28% | +18.28% | 20.97% | 14.46% | 17.25 |
| Bajaj Auto | −4.82% | +15.99% | 20.28% | 17.00% | 20.00 |
| Grasim Industries | −2.63% | +1.05% | 19.14% | 12.60% | 20.25 |
| Cipla | +2.44% | −10.47% | 18.29% | 13.46% | 20.25 |
| Sun Pharma | −2.14% | +4.36% | 12.25% | 13.15% | 20.50 |
| TCS | +22.04% | −17.55% | 26.60% | 25.30% | 21.00 |
↔ Scroll horizontally to view the full table. The company column stays fixed.
Data cutoff: October 30, 2026. Percentage returns are point-to-point price changes and are not annualised. Figures are rounded to two decimal places. Equal combined scores represent tied positions.
Fifteen companies in this top 20 rose during October, while 14 recorded positive one-year returns.
What stands out in the results
Tech Mahindra combined a strong month with positive annual performance
Tech Mahindra gained 17.51% in October and ended the month 24.90% higher over one year. Its price was just 3.41% below its 52-week high.
Adani Ports ranked second despite a smaller monthly gain of 2.87%. Its 26.89% annual return, 43.19% recovery from its low and proximity to its high strengthened its combined position.
The comparison rewards performance across all four measures. A stock can therefore rank highly without being among the month’s biggest gainers.
TCS had the strongest monthly gain in the table, but remained below earlier levels
TCS rose 22.04% during October, yet finished 25.30% below its 52-week high. Its month-end price was ₹2,502.60, compared with a yearly high of ₹3,350.
Its annual return also remained negative at −17.55%.
HCL Technologies showed a similar pattern: a 16.11% monthly gain, alongside a −7.85% annual return and a price 19.77% below its high.
Both recovered sharply during October. The longer-term figures show the losses that still remained for investors who bought at higher prices.
BSE retained the largest annual gain among the top 20
BSE’s 43.70% one-year return was the strongest among the displayed stocks. However, it remained 21.06% below its 52-week high.
A large annual gain can coexist with a substantial decline from a more recent peak. An investor who bought a year earlier and one who bought near that peak would have experienced different outcomes.
BSE also stood 50.91% above its yearly low, showing how widely its price had moved within the period.
Kotak Mahindra Bank and Eternal finished closest to their highs
Kotak Mahindra Bank ended October just 0.28% below its 52-week high. Its price of ₹461.60 compared with a high of ₹462.90.
Eternal was 0.82% below its high and 61.64% above its low, the largest recovery from a low in this table.
That recovery percentage starts from the yearly low. It is not the return earned by every investor holding the stock, since each investor’s purchase price differs.
Titan and Bajaj Auto retained annual gains despite a weaker October
Titan declined 3.28% during October, while its one-year return remained positive at 18.28%. Bajaj Auto fell 4.82% during the month, but retained a 15.99% annual gain.
Both remained in the combined top 20 because the calculation includes more than monthly performance.
Their figures provide a useful contrast with TCS and HCL Technologies: a weaker month within a positive annual period, compared with a strong month within a negative annual period.
What the ranking leaves out
All four measures depend on share prices, and some overlap. A rally can improve the monthly return, annual return, recovery from the low and proximity to the high at the same time.
The combined score summarises past price behaviour. It does not measure earnings growth, debt, cash flow or valuation.
A higher-ranked stock may already trade at an expensive valuation. A lower-ranked stock may face business difficulties, or its price may have fallen more than its earnings prospects justify. The ranking cannot establish either conclusion.
For investors reviewing an existing holding, the useful starting point is to match the comparison period to their own investment. October’s return describes one month. Annual returns and the distance from the peak add context, while a decision about continuing to hold requires examining the business and the price paid.
FAQs
1. Which stock had the highest October return in the combined top 20?
TCS recorded the highest October return among the 20 displayed stocks, at 22.04%. Tech Mahindra ranked first on the combined score, which incorporates all four measures.
2. Why can a stock with a negative monthly return rank in the top 20?
Its rankings on annual performance and the 52-week price range can compensate for a weaker month. Titan and Bajaj Auto both had negative October returns alongside positive annual gains.
3. Is the combined score an official NSE ranking?
No. It is an analytical method that averages four historical price-performance ranks. It does not assess whether a stock is suitable for an investor.
4. Is the percentage below a high the gain needed to recover?
No. A fall from ₹100 to ₹75 is a 25% decline, but returning from ₹75 to ₹100 requires a 33.3% gain. The two calculations use different starting values.
Methodology: The review uses an October 30, 2026 reporting cutoff. The combined comparison ranks the 50-stock universe on monthly return, one-year return, recovery from the 52-week low and distance below the 52-week high. The four ranks receive equal weight. A lower average score ranks higher. The table displays the leading 20 entries, with tied scores shown equally.
Sources and further reading
Disclaimer: This article is for information and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. The rankings reflect historical price performance and do not assess investment suitability. Past performance does not guarantee future returns. Investments are subject to market risks. Consult a SEBI-registered investment adviser before making investment decisions.
