अFunda Observatory

Smart-money tracker: who bought and sold Indian stocks in the quarter ended Sep 2025

Based on shareholding patterns filed by 1423 of 1490 companies (96%) · Q2 FY26 · updated 9 Oct 2026 · Methodology

Descriptive summary of filed shareholding patterns. Not investment advice; ₹ flows are estimates.

FII ownership, market-cap weighted
18.0%
−0.8 pp q/q
DII ownership
18.5%
+1.4 pp q/q
Promoter ownership
52.6%
−0.3 pp q/q
Estimated net FII flow
≈ −₹2,49,700 cr
−0.7 pp flow component (est.)

Excluding financial companies: FII 15.5% (−0.7 pp q/q), DII 16.5% (+1.3 pp q/q). Banks carry a large share of FII value, so the headline is dominated by them.

Sector flow board

FIIs cut exposure in 14 of 19 sectors, led by Industrial Services (−2.9 pp, ≈ −₹24,100 cr) and Energy Minerals (−2.4 pp). DIIs added exposure in 17 of 19 sectors, led by Transportation (+3.0 pp, ≈ +₹20,300 cr) and Industrial Services (+2.8 pp). Communications: 4th straight quarter of FII addition; Health Technology: 3rd straight quarter of FII addition.

Flow component: change in the sector's market-cap-weighted ownership holding the quarter-start weights fixed, so a heavily held stock rallying does not move it. Same companies in both quarters. Sectors with fewer than 5 companies are not shown.

Promoter clusters

Promoters raising holding

No sector met the cluster rule (at least 3 companies, 15% of the sector and twice the opposite side).

Promoters lowering holding

Sector# loweringMedian changeNames
Electronic Technology9 of 32−3.3 ppCENTUM, SURANASOL, PGEL +6 more

Largest increases in promoter share count

Largest decreases in promoter share count

Diluted, not sold

Promoter percentage fell because the total share count grew; the promoter's own share count was roughly unchanged (QIPs, ESOPs, mergers).

Government stake changes

Companies with a government shareholding; changes are reported as disinvestment or purchase rather than promoter selling.

Major ownership changes

Promoter holding moved by 10 pp or more (offer for sale, merger or open offer is likely). Excluded from the clusters above.

Retail rush

Shareholder count up at least 15% while FII+DII holding fell 0.5 pp or more, among companies above ₹500 cr with at least 5,000 holders. This is a descriptive screen: crowding does not necessarily precede declines. "Public" is a proxy for retail; it also includes HNIs and corporates.

CompanyShareholdersFII+DIIPublic3M price (context)
VST INDUSTRIES LTD (VSTIND)1.5 lakh (+358%)−8.0 pp+8.2 pp−15.9%
ARMAN FINANCIAL SERVICES LIMIT (ARMANFIN)41,400 (+110%)−10.4 pp+10.4 pp−16.8%
SKIPPER LTD (SKIPPER)59,503 (+137%)−4.8 pp+10.2 pp+1.4%
CUPID LIMITED (CUPID)1.2 lakh (+265%)−3.5 pp+5.8 pp+100.0%
TITAGARH RAIL SYSTEMS LIMITED (TITAGARH)5.9 lakh (+101%)−6.0 pp+8.0 pp−7.4%
GTL INFRASTRUCTURE LIMITED (GTLINFRA)28.0 lakh (+91%)−8.1 pp+8.1 pp−17.1%
VOLTAMP TRANSFORMERS LIMITED (VOLTAMP)56,960 (+113%)−4.3 pp+4.3 pp−24.0%
HERITAGE FOODS LIMITED (HERITGFOOD)1.4 lakh (+141%)−3.3 pp+3.3 pp−3.0%
PNC INFRATECH (PNCINFRA)1.9 lakh (+89%)−5.5 pp+5.5 pp−4.7%
IMAGICAAWORLD ENTERTAINMEN LTD (IMAGICAA)73,546 (+72%)−7.9 pp+3.0 pp−22.1%
CANARA BANK (CANBK)18.0 lakh (+137%)−2.6 pp+2.6 pp+8.3%
SEPC LIMITED (SEPC)2.9 lakh (+77%)−5.8 pp−0.6 pp−9.6%
MOTILAL OSWAL FINANCIAL SERVIC (MOTILALOFS)2.9 lakh (+327%)−1.9 pp+2.7 pp+2.7%
GREAT EASTERN SHIPPING CO LTD (GESHIP)2.0 lakh (+99%)−3.7 pp+3.7 pp+1.5%
JYOTI STRUCTURES LTD (JYOTISTRUC)2.1 lakh (+148%)−2.2 pp+2.2 pp−17.6%
CHENNAI PETROLEUM CORPORATION (CHENNPETRO)2.1 lakh (+94%)−3.8 pp+3.8 pp+11.5%
CONTAINER CORPORATION OF INDIA (CONCOR)3.3 lakh (+139%)−2.2 pp+2.3 pp−13.5%
NARAYANA HRUDAYALAYA LIMITED (NH)1.4 lakh (+83%)−4.1 pp+4.1 pp−19.9%
PREMIER EXPLOSIVES LTD (PREMEXPLN)83,951 (+237%)−1.8 pp+1.8 pp0.0%
PAISALO DIGITAL LIMITED (PAISALO)85,096 (+63%)−6.8 pp+6.8 pp+20.5%
AHLUWALIA CONTRACTS (INDIA) LT (AHLUCONT)38,986 (+96%)−3.0 pp+3.0 pp−2.0%
HERO MOTOCORP LIMITED (HEROMOTOCO)9.5 lakh (+224%)−1.4 pp+1.4 pp+29.2%
INDUSIND BANK LIMITED (INDUSINDBK)7.7 lakh (+94%)−2.5 pp+3.0 pp−15.7%
BCL INDUSTRIES LIMITED (BCLIND)1.4 lakh (+54%)−5.5 pp+2.7 pp−4.7%
BHARAT ELECTRONICS LTD (BEL)26.8 lakh (+96%)−1.8 pp+1.8 pp−4.2%
Institutions in, retail out (93)
CompanyShareholdersFII+DIIPublic3M price (context)
CENTUM ELECTRONICS LIMITED (CENTUM)18,150 (−23%)+8.1 pp−0.8 pp+11.4%
GOKALDAS EXPORTS LIMITED (GOKEX)55,507 (−17%)+11.4 pp−10.2 pp−20.0%
PATANJALI FOODS LIMITED (PATANJALI)2.1 lakh (−18%)+9.0 pp−4.7 pp+4.7%
NAVIN FLUORINE INTERNATIONAL L (NAVINFLUOR)1.4 lakh (−24%)+6.0 pp−5.6 pp−4.1%
BALRAMPUR CHINI MILLS LTD (BALRAMCHIN)2.0 lakh (−17%)+7.1 pp−7.1 pp−23.3%
PAGE INDUSTRIES LTD (PAGEIND)50,905 (−40%)+4.7 pp−2.5 pp−17.7%
DEEPAK FERTILIZERS &PETROCHEMI (DEEPAKFERT)1.9 lakh (−19%)+6.1 pp−6.1 pp−12.0%
DHANLAXMI BANK LIMITED (DHANBANK)1.8 lakh (−13%)+9.1 pp−9.1 pp−18.4%
BANDHAN BANK LIMITED (BANDHANBNK)7.1 lakh (−17%)+5.3 pp−4.3 pp−14.5%
AMRUTANJAN HEALTH CARE LIMITED (AMRUTANJAN)51,674 (−18%)+5.0 pp−0.9 pp−0.9%
AMBER ENTERPRISES INDIA LTD (AMBER)1.2 lakh (−16%)+5.4 pp−3.9 pp+19.5%
DR. LAL PATHLABS LIMITED (LALPATHLAB)1.2 lakh (−21%)+4.1 pp−3.4 pp+11.5%
UPL LIMITED (UPL)3.2 lakh (−33%)+3.8 pp−4.8 pp−0.8%
HINDUSTAN FOODS (HNDFDS)73,822 (−14%)+5.9 pp−4.3 pp−3.0%
AU SMALL FINANCE BANK LTD (AUBANK)1.7 lakh (−13%)+5.8 pp−5.7 pp−10.5%
RAIN INDUSTRIES LIMITED (RAIN)2.1 lakh (−17%)+4.3 pp−4.3 pp−13.2%
DCW LIMITED (DCW)1.1 lakh (−28%)+3.6 pp−4.3 pp−19.1%
ZEE MEDIA CORPORATION LIMITED (ZEEMEDIA)1.9 lakh (−8%)+9.7 pp−11.3 pp−24.4%
DEEPAK NITRITE LIMITED (DEEPAKNTR)4.1 lakh (−18%)+3.9 pp−4.0 pp−7.6%
ARVIND LIMITED (ARVIND)2.0 lakh (−8%)+11.8 pp−11.7 pp−13.9%
SUDARSHAN CHEMICAL INDUS LTD (SUDARSCHEM)63,734 (−7%)+9.6 pp−0.2 pp+8.2%
XPRO INDIA LTD (XPROINDIA)28,186 (−6%)+17.3 pp−8.4 pp−5.2%
CITY UNION BANK LTD (CUB)2.2 lakh (−10%)+4.7 pp−4.7 pp−2.3%
PAKKA LIMITED (PAKKA)39,809 (−7%)+8.9 pp−2.8 pp−27.1%
VSTTILLERS TRACTORS LTD (VSTTILLERS)24,104 (−10%)+4.4 pp−4.4 pp+37.7%

Persistence: FII flow, last 8 quarters

SectorDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Commercial Services+2.0−1.1−0.1−0.2−0.9+1.7−0.5−0.7
Communications ↑4+2.8−1.8+1.8−1.5+0.3+1.2+3.1+1.3
Consumer Durables−0.2−1.9−1.5+0.8−0.8+0.1+0.5−2.4
Consumer Non-Durables−0.3−0.1−1.0+0.8−0.5+6.2−0.8−1.6
Consumer Services+4.6−2.5−0.2+2.4−1.2−0.3−0.9+1.3
Distribution Services+2.1+2.0−0.9+0.8+0.1−1.9+0.7−2.3
Electronic Technology+0.8+0.2+1.4+1.0+2.5+2.5+1.0−0.8
Energy Minerals+1.20.0−0.1+0.8−0.2−1.5+0.1−2.4
Finance+0.9+0.3−0.1+1.0−1.6−0.4+3.0−0.4
Health Services+3.2+6.3+2.1−0.2−4.40.0−2.6−1.4
Health Technology ↑3−1.2+0.2−1.9+0.20.0+0.4+0.6+0.6
Industrial Services+0.80.0−1.2+2.8+1.7+1.50.0−2.9
Non-Energy Minerals+0.6−1.4−1.6+1.2−0.2+1.2+0.5−0.6
Process Industries−1.20.0+0.3+1.1+0.20.0−0.1−0.2
Producer Manufacturing ↑3+0.6−0.1−0.5+0.4−0.2+0.9+1.7+0.2
Retail Trade+4.9+2.2+0.5−0.2+1.8−0.3−1.2+0.9
Technology Services+2.6−0.6−1.5−0.6−1.6−0.7+0.1−0.3
Transportation−1.4+1.6−2.4+0.9−1.4+2.1−0.4−1.4
Utilities0.0+0.8−0.6−0.7+0.80.0+0.1−0.5

FII flow component in percentage points per quarter; amber is a reduction, cyan an increase. A number beside a sector counts consecutive quarters moving the same way (3 or more).

Explore FII, DII and promoter holding in the observatory →

This page summarises publicly filed shareholding patterns. It describes what changed; it is not investment advice or a recommendation to buy, sell or hold any security. Changes in institutional or promoter holdings do not reliably predict future returns. ₹ flow figures are estimates derived from percentage changes and average market value; actual transactions may differ materially. ApnaFunda is not a SEBI-registered research analyst or investment adviser. Data may contain errors or omissions; verify with exchange filings before acting.