Major Indian conglomerates like Tata, Adani, and Reliance experienced significant market capitalization losses in 2025 due to volatile equities. Major Indian conglomerates, including Adani Group, Reliance Group, Tata Group, Mahindra & Mahindra Group, experienced significant market capitalisation losses so far in 2025. Data from the Ace Equity showed that a cumulative market cap decline of nearly Rs 5.37 lakh crore was seen across these groups, driven by wild swings in Indian equities this year.