Indian equities have been experiencing high volatility with a negative bias in recent times. The benchmark Sensex has shed nearly 10,000 points from its peak. However, for FY25 so far, the index has still managed to gain about 2.5%, while the BSE Smallcap index is up by around 6%.

Despite the recent correction, several smallcap stocks have delivered stellar returns. In fact, 28 smallcap stocks have surged over 100% in FY25. To refine the list, only stocks held by at least 10 mutual fund schemes as of January 2025 were considered. After applying this filter, nine smallcap stocks emerged as top performers.