Foreign Institutional Investors (FIIs) are often seen as smart money in the market, making investment decisions backed by deep research and long-term conviction. That’s why tracking where FIIs are increasing their stakes can offer useful clues for retail investors.A recent analysis of BSE midcap stocks revealed that nearly 20 companies saw a rise in ownership from both FIIs and retail investors (individual shareholders holding up to Rs 2 lakh in nominal share capital) compared to the previous quarter—a sign of growing interest across investor categories.
Stocks Slide
Interestingly, despite this accumulation trend, most of these stocks have struggled in the last six months. The top 10 laggards declined between 10% and 30%, reflecting broader market pressure and weak sentiment in the midcap space. However, not all stories were negative—a handful of stocks managed to outperform, with three delivering gains of 20% to 40% over the same period. For investors, the key question remains: if these stocks fall further, is it an opportunity for bottom fishing or is patience the wiser strategy? The answer, as always in markets, will only become clear with time. (Data Source: ACE Equity)
Kalyan Jewellers India
In the last six months, the stock has declined 29%, falling from Rs 496 to Rs 352. FII holding increased to 14.55% in March ’26 from 14.11% in December ’25, while retail holding rose to 6.33% from 5.88%.
AWL Agri Business
In the last six months, the stock has declined 29%, falling from Rs 274 to Rs 195. FII holding increased to 21.86% in March ’26 from 21.15% in December ’25, while retail holding rose to 10.33% from 10.21%.
Relaxo Footwears
In the last six months, the stock has declined 28%, falling from Rs 408 to Rs 295. FII holding increased to 3.04% in March ’26 from 3.01% in December ’25, while retail holding rose to 6.11% from 6.01%.
Indraprastha Gas
In the last six months, the stock has declined 23%, falling from Rs 201 to Rs 155. FII holding increased to 17.08% in March ’26 from 17.00% in December ’25, while retail holding rose to 7.01% from 6.43%.
Escorts Kubota
In the last six months, the stock has declined 19%, falling from Rs 3,611 to Rs 2,931. FII holding increased to 5.71% in March ’26 from 5.25% in December ’25, while retail holding rose to 8.39% from 8.27%.
Hindustan Petroleum Corporation
In the last six months, the stock has declined 17%, falling from Rs 472 to Rs 390. FII holding increased to 17.26% in March ’26 from 16.35% in December ’25, while retail holding rose to 4.97% from 4.75%.
UPL
In the last six months, the stock has declined 16%, falling from Rs 751 to Rs 633. FII holding increased to 41.78% in March ’26 from 38.84% in December ’25, while retail holding rose to 5.80% from 5.76%.
Mahindra & Mahindra Financial Services
In the last six months, the stock has declined 13%, falling from Rs 342 to Rs 300. FII holding increased to 9.40% in March ’26 from 9.11% in December ’25, while retail holding rose to 3.59% from 3.57%.
Housing & Urban Development Corporation
In the last six months, the stock has declined 11%, falling from Rs 230 to Rs 205. FII holding increased to 2.22% in March ’26 from 1.97% in December ’25, while retail holding rose to 8.81% from 8.71%.
In the last six months, the stock has declined 10%, falling from Rs 948 to Rs 850. FII holding increased to 7.03% in March ’26 from 6.93% in December ’25, while retail holding rose to 7.87% from 7.53%.
NMDC
In the last six months, the stock has gained 20%, rising from Rs 74 to Rs 88. FII holding increased to 13.60% in March ’26 from 13.48% in December ’25, while retail holding rose to 8.59% from 8.44%.
Aurobindo Pharma
In the last six months, the stock has gained 22%, rising from Rs 1,205 to Rs 1,465. FII holding increased to 15.24% in March ’26 from 13.95% in December ’25, while retail holding rose to 5.35% from 5.03%.
Lloyds Metals & Energy
In the last six months, the stock has gained 42%, rising from Rs 1,222 to Rs 1,734. FII holding increased to 2.26% in March ’26 from 1.89% in December ’25, while retail holding rose to 6.86% from 6.51%.
