Top 3 Nifty 500 Stocks Outperform on a YTD Basis

GE Power India leads with 36.72% YTD rally

GE Power India Ltd has emerged as the top performer with a 36.72% YTD gain, driven by strong momentum in the power and capital goods sector. The company operates in power generation equipment and services, benefiting from India’s continued push towards infrastructure and energy capacity expansion.

The company is shifting to an asset-light, services-led model. It is focusing on high-margin, short-cycle business and avoiding EPC and nuclear projects. Q3 revenue rose 22% to ₹386 crore and PBT stood at ₹131 crore, supported by ₹84 crore one-offs. EBITDA guidance remains at 10%+. Order backlog fell to ₹1,671 crore due to ₹775 crore FGD cancellations. Cash flows improved with ₹216 crore BHEL collections and ₹25 crore from Jaypee. The Durgapur demerger to JSW Energy is underway. The company targets a ₹2,500 crore services market and expects ~5–8% growth with ~2 years of execution visibility.

GE Shipping gains 27.90% on earnings and global tailwinds

Shares of The Great Eastern Shipping Company Ltd have risen 27.90% on a YTD basis, supported by strong operational and financial performance. The company is India’s largest private sector shipping firm, engaged in crude oil transportation and offshore services.

Recent developments have further strengthened investor confidence. The company reported a sharp rise in Q3 earnings, with net profit increasing to ₹813 crore from ₹590 crore year-on-year, while revenue climbed to ₹1,450 crore from ₹1,240 crore. EBITDA also improved significantly, with margins expanding to 57.50% from 49.39%.

Additionally, the company announced an interim dividend, reflecting strong cash flows. The global shipping cycle, supported by firm freight rates and tight vessel supply, has also contributed to the stock’s upward trajectory.

MRPL rallies 27.73% on refining strength and sector tailwinds

Mangalore Refinery and Petrochemicals Ltd has gained 27.73% YTD, benefiting from favourable dynamics in the oil refining sector. MRPL, a subsidiary of ONGC, is engaged in refining crude oil and producing petroleum products.

Share price of Mangalore Refinery and Petrochemicals Ltd are rising mainly due to higher crude oil prices, which boost Gross Refining Margins (GRMs). GRMs can increase after rise in crude, leading to strong EBITDA growth for standalone refiners like MRPL. Since these companies are not directly impacted by retail fuel losses, they benefit more from margin expansion, supporting the stock’s upward momentum.

Conclusion

The strong YTD performance of GE Power India Ltd, The Great Eastern Shipping Company Ltd, and Mangalore Refinery and Petrochemicals Ltd reflects a clear sectoral trend favouring power, shipping, and refining businesses. Each of these companies is benefiting from distinct tailwinds, policy shifts and services focus in power, robust global freight dynamics in shipping, and rising refining margins in oil.

While near-term momentum remains strong, the sustainability of gains will depend on policy stability, global commodity trends, and the execution of business strategies. Overall, these stocks highlight how sector-specific drivers continue to shape outperformance within the broader Nifty 500 universe.