Promoter shareholding in several prominent Indian listed companies saw notable shifts during the first quarter of financial year 2026-27 (Q1 FY27). An analysis by JM Financial indicates an increase in promoter stakes for four large-cap, one mid-cap, and fourteen small-cap companies.
Large-Cap Companies See Increased Promoter Stakes
Among the large-cap sector, Reliance Industries Ltd (RIL), Bharti Airtel Ltd, Adani Energy Solutions Ltd, and Jio Financial Services Ltd all reported an uptick in promoter holding during the quarter. Specifically, promoter holding in Reliance Industries increased by 0.5 percent. Bharti Airtel recorded a more substantial 1.2 percent increase, while Adani Energy Solutions and Jio Financial Services both saw their promoter holdings rise by 2 percent.
Mid-Cap and Small-Cap Increases
In the mid-cap segment, GMR Airports Ltd was the sole company highlighted by JM Financial for an increase in promoter holding, rising by 0.8 percent during Q1 FY27.
The small-cap sector witnessed significant movements, with RBL Bank Ltd experiencing a 60 percent increase in promoter holding due to a preferential issue. Manappuram Finance also saw a substantial 9.9 percent rise in promoter holding, similarly attributed to a preferential issue.
Companies Reporting Promoter Holding Declines
While some companies saw increases, many others experienced declines in promoter shareholding during the same period.
Large-Cap Declines
- Infosys Ltd: Promoter holding declined by 0.6 percent following the reclassification of certain individuals from the promoter category to the public category.
- Adani Ports and Special Economic Zone Ltd: Recorded a 2 percent reduction.
- JSW Steel Ltd: Saw a 1 percent decline.
- Coal India Ltd: Experienced a 2 percent reduction.
Mid-Cap Declines
- JSW Energy Ltd: Promoter holding decreased by 2.9 percent.
- Lodha Developers Ltd: Recorded a 2 percent reduction after a stake sale via a block deal.
- JSW Infrastructure Ltd: Saw a 9.7 percent decline following a Qualified Institutional Placement (QIP) in June 2026 and a promoter stake sale to meet minimum public shareholding norms.
- Premier Energies Ltd: Experienced a 5.5 percent reduction after a stake sale through a bulk deal.
Small-Cap Declines
- PhysicsWallah Ltd: Promoter holding declined by 1 percent.
- Acme Solar Holdings Ltd: Saw an 11.8 percent reduction following a QIP in June 2026.
- Bandhan Bank Ltd: Recorded a 1.4 percent decline.
- KPIT Technologies Ltd: Experienced a 0.8 percent decline.
- DOMS Industries Ltd: Promoter holding declined by 7 percent following a stake sale via a block deal.
- SJS Enterprises Ltd: Recorded a 1 percent reduction.
- GNG Electronics Ltd: Logged a 3.9 percent drop after a promoter stake sale to meet minimum public shareholding norms.
Overall, JM Financial's analysis indicates that promoter holdings declined in seven large-cap, twelve mid-cap, and thirty-four small-cap companies during Q1 FY27, highlighting a mixed trend in ownership concentration across the Indian market.