Comeback candidates of FY26? Three sectors, 19 stocks: Out of favour for some time now, for right or wrong reasons

In every stock market, from time to time, a set of theme-based stocks catch the limelight. Then their valuations get stretched, and they slip into a period of underperformance. This underperformance could be for any reason: Industry not doing as expected, change in technology, whatever. But the fact is these stocks don't perform. Now, there is another side to this story. If the higher valuations were given due to some one-off event, the probability is low that such stocks will see a recovery, either in absolute or relative terms.