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Companies including Larsen & Toubro, HDFC Bank, ICICI Bank, Ashok Leyland and Sapphire Foods India have seen major declines in March, eroding billions in market capitalisation and putting them among the key laggards in the market.Larsen & Toubro | Shares of Larsen & Toubro have been among the hardest hit this month, largely due to concerns over its exposure to West Asia. The stock has declined about 20% so far in March, marking its worst monthly performance since March 2020. The sharp fall has also eroded more than ₹1.1 lakh crore from the company’s market capitalisation during the month.HDFC Bank | HDFC Bank shares have dropped nearly 8% so far in March, putting the stock on track for its worst month since January 2024. The lender has now declined in all three months of 2026, marking its longest monthly losing streak since the July to October 2023 period. The recent weakness has wiped out over ₹1.1 lakh crore in market capitalisation this month.ICICI Bank | Shares of ICICI Bank are down about 9% so far in March, heading for their worst monthly performance since November 2021. The stock has managed to gain in just one trading session this month. The decline has also led to a loss of nearly ₹90,000 crore in market value so far in March.Ashok Leyland | Ashok Leyland shares have erased all the gains made earlier this year after a sharp correction in March. The stock had risen 18% during January and February combined, but has fallen about 20% so far this month, pushing its market capitalisation below the ₹1 lakh crore mark.Sapphire Foods | Sapphire Foods India has emerged as the worst performer on the Nifty 500 index this month. The stock has declined around 21% in March, extending its year-to-date loss to nearly 38%. It is also trading about 31% below its split-adjusted IPO price of ₹236.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.