By December 31, 2025, for the first time, domestic institutional investors i.e. DIIs overtook foreign institutional investors i.e. FIIs in terms of stake. The share of DIIs in Nifty 50 was about 24.8 percent, while the share of FIIs was 24.3 percent.
FIIs were net sellers in two of the first three quarters of the current financial year. At the same time, DIIs continued purchasing. DIIs will inject around ₹7,50,000 crore into the market in calendar year 2025. The total outflow of FIIs stood at more than ₹1,50,000 crore.
The interesting thing is that both have different views on the market. Nevertheless, there were some shares in the December quarter where both increased their stake simultaneously.
DIIs increased stake in IT company Mphasis by 8.2 percentage points and FIIs by 1.3 percentage points in the December quarter (Q3FY26). The total increase was 9.5 percentage points. By the end of the quarter, the share of DIIs stood at 45.3 percent and that of FIIs at 19.8 percent.
A major reason for institutional buying is believed to be the Mphasis NeoIPTM Agentic Platform launched in the September quarter. This AI based platform facilitates goal based orchestration through business and operation agents.
The company’s total contract value in the December quarter stood at ₹3,850 crore, of which 69 percent of the deals were AI based. Financial performance was also strong. Sales grew 12.4 percent to ₹4,003 crore. Net profit increased by 9 percent to ₹442 crore.
Ratnaveer Precision Engineering Limited
In this steel and metal products manufacturing company, FIIs increased their stake by 7 percentage points and DIIs by 2.5 percentage points. The total increase was 9.5 percentage points. The company had issued QIP of ₹185 crore during the quarter.
Sales increased 5.8 percent to ₹269 crore in the December quarter. But profits rose 49 percent to ₹17 crore. This is not just a one-quarter surge. The company’s sales and profits have been continuously increasing for the last few years. Management targets revenue of ₹1,100 crore in FY26, ₹1,500 crore in FY27 and ₹1,800 crore in FY28.
FIIs increased stake by 3.8 percentage points and DIIs by 6.6 percentage points in food and quick commerce delivery company Swiggy. The overall increase was 10.4 percentage points. By the end of the quarter, the share of FIIs increased to 16.1 percent and that of DIIs to 22.5 percent. The company issued a large QIP of ₹10,000 crore during the quarter.
Monthly transacting users increased by 37 percent to 2.4 crore. The platform’s adjusted revenue grew 51 percent to ₹6,431 crore. Gross order value of food delivery business grew 20.5 per cent to ₹8,959 crore, while that of quick commerce grew 103 per cent to ₹7,938 crore. However, the company’s loss increased from ₹799 crore to ₹1,065 crore.
In private sector RBL Bank, FIIs increased their stake by 6.4 percentage points and DIIs by 4.4 percentage points. The overall increase was 10.8 percentage points. By the end of the quarter, the share of FIIs stood at 21.9 percent and that of DIIs at 39.7 percent. During the quarter, Emirates NBD announced the purchase of 60 per cent stake by infusing more than ₹27,000 crore through a preferential issue.
RBL Bank’s revenue increased by 3.9 percent in the December quarter. Profit increased from ₹33 crore to ₹214 crore, a jump of 555 percent. Gross NPA declined from 2.9 percent to 1.9 percent. However, net NPA increased from 0.53 percent to 0.55 percent. Advances grew 14 per cent to ₹1,03,086 crore and deposits grew 12 per cent to ₹1,19,729 crore.
Utkarsh Small Finance Bank Limited
In Utkarsh Small Finance Bank, FIIs increased their stake by 10.1 percentage points and DIIs by 7.35 percentage points. The total increase was 17.45 percentage points, which is the highest in this list. By the end of the quarter, the share of FIIs increased to 11.8 percent and that of DIIs to 9.7 percent. The bank also did a rights issue of ₹950 crore.
However, the bank’s gross loan portfolio declined by 3.9 percent to ₹18,306 crore. Total deposits increased by 4.5 percent to ₹21,087 crore. Revenue declined from ₹932 crore to ₹821 crore. Losses increased from ₹168 crore to ₹375 crore. Gross NPAs increased from 6.17 percent to 11.1 percent, while net NPAs increased from 2.5 percent to 4.48 percent.
Management says that this pressure is visible due to shift from JLG loans to non-JLG loans. They aim to take ROE again to 15 per cent by FY28, from 1 per cent by March 2025.
FIIs and DIIs bought stake here also
- Synthiko Foils Ltd. FIIs bought 3.7 percent stake and DIIs bought 6.4 percent stake for the first time.
- Belrise Industries Ltd. FIIs increased their share by 1.2 percentage points and DIIs by 5.3 percentage points.
- MTAR Technologies Ltd. FIIs increased their share by 3 percentage points and DIIs by 5.2 percentage points.
- LKP Finance Ltd. FIIs increased their share by 2.4 percentage points and DIIs by 3.9 percentage points.
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