Amid sustained FII outflows, elevated crude oil prices above $100 per barrel, and rising geopolitical tensions linked to the Iran conflict, Indian equity markets have remained highly volatile in recent months. The weakening rupee against the U.S. dollar has further added to investor caution, even as retail participants continued selectively increasing exposure during the March 2026 quarter. 10 stocks where retail investors saw value in Q4.
HDFC Bank Ltd.
Retail investors increased their holding in HDFC Bank Ltd. by 6.17 crore shares during the March 2026 quarter, taking total retail shareholding to 131.65 crore shares from 125.48 crore shares in December 2025. Estimated net buying stood at Rs 5,331 crore, while the stock fell 26.20%.
ITC Ltd.
ITC Ltd. saw retail investors add 11.14 crore shares in the March 2026 quarter. Retail holding rose to 149.59 crore shares from 138.45 crore shares in the previous quarter. Net buying was estimated at Rs 3,634 crore even as the stock declined 28.61%.
Larsen & Toubro Ltd.
Retail investors bought an additional 0.62 crore shares of Larsen & Toubro Ltd. during the March 2026 quarter. Retail shareholding increased to 25.75 crore shares from 25.13 crore shares. Estimated net buying stood at Rs 2,364 crore, while the stock corrected 14.19%.Slide 4: Reliance Industries Ltd.
Infosys Ltd.
Retail investors increased their stake in Infosys Ltd. by 0.87 crore shares during the quarter. Retail holding climbed to 28.06 crore shares from 27.19 crore shares. The stock fell 22.58%, while estimated net buying stood at Rs 1,224 crore.
Tata Consultancy Services Ltd.
Tata Consultancy Services Ltd. saw retail shareholding rise by 0.44 crore shares in the March 2026 quarter. Retail investors held 15.59 crore shares at the end of March compared to 15.16 crore shares in December. Net buying was estimated at Rs 1,213 crore, while the stock dropped 26.43%.
Wipro Ltd.
Retail investors added 4.72 crore shares of Wipro Ltd. during the March 2026 quarter. Retail holding increased to 41.46 crore shares from 36.75 crore shares. Estimated net buying stood at Rs 1,024 crore even as the stock declined 28.73%.
Mahindra & Mahindra Ltd.
Mahindra & Mahindra Ltd. saw retail investors buy an additional 0.30 crore shares during the March 2026 quarter. Retail shareholding rose to 8.99 crore shares from 8.69 crore shares. Estimated net buying stood at Rs 982 crore, while the stock declined 20.34%.
Hindustan Copper Ltd.
Retail investors increased their holding in Hindustan Copper Ltd. by 1.64 crore shares during the quarter. Retail shareholding rose to 16.66 crore shares from 15.02 crore shares. Net buying was estimated at Rs 946 crore, while the stock fell 12.50%.
