Suzlon, One Mobikwik: Retail investors lap up these 28 stocks as promoters, MFs, FIIs step back

Retail investors seem to be swimming against the tide. In the September quarter of FY26, they picked up stakes in companies that saw promoters, mutual funds, and foreign institutional investors (FIIs) trim their holdings.

The latest shareholding data shows that retail investors increased their holdings in Sula Vineyards (to 38.61% from 34.99%), Suzlon Energy (25.89% from 25.03%), Paras Defence and Space Technologies (33.31% from 31.14%), SpiceJet (16.64% from 15.46%), One Mobikwik Systems (31.22% from 28.10%), Zen Technologies (30.48% from 29.38%), HFCL (32.76% from 30.45%), and Laxmi Organic Industries (19.95% from 19.83%), among others. Interestingly, these are among the 28 companies that saw stake reductions by promoters, mutual funds, and FIIs during the quarter.

This comes at a time when overseas investors turned sellers, offloading shares worth Rs 76,618 crore in the quarter. Meanwhile, domestic institutional investors bought shares worth over Rs 2 lakh crore during the same period, according to Ace Equity. The benchmark NSE Nifty 50 declined 3.55% in Q2FY26, reflecting the volatility that may have encouraged retail investors to accumulate select stocks at lower levels.

Apart from the companies mentioned above, data shows a similar trend of retail buying despite institutional investor or promoter share sales in United Foodbrands, Intellect Design Arena, Balrampur Chini Mills, Jupiter Wagons, Angel One, CE Info Systems, JK Lakshmi Cement, Campus Activewear, and TeamLease Services.

Market experts say growing retail participation has added liquidity and depth to the domestic equity markets. However, they also warn that chasing momentum without earnings support can backfire, especially in mid- and small-cap counters. Investors must focus on fundamentals and consult financial advisors before taking positions in such firms.