​Bandhan Bank, Urban Company among 18 smallcaps where promoters decreased their stakes in Q4

JM Financial in its latest ‘strategy’ report listed out companies which saw a fall in promoter shareholding in the January-March quarter of the financial year 2026. Hindustan Zinc and IRFC were the two large-cap companies, while BHEL, Lloyds Metals, Coromandel International and Vishal Mega Mart were the four midcap companies which were part of the list. In the smallcap space, as many as 18 companies saw their promoter shareholding decrease in Q4 FY26, as per the domestic brokerage’s report.

Promoters of the private sector lender pared their stake by 0.8% during the fourth quarter. The shares of the company have fallen nearly 3% in one week but gained around 9% in one month and 31% in 2026 so far. The company currently has a market capitalisation of nearly Rs 30,723 crore.

The company saw a notable reduction in promoter ownership, with shareholding dropping by 2.2% in Q4 FY26. It currently commands a market capitalization of more than Rs 27,750 crore. The shares of the company have fallen nearly 6% in one week but gained around 4% in one month and 55% in 2026 so far.

Promoter shareholding in the non-banking financial company (NBFC) Manappuram Finance decreased by 3.5% during the January-March quarter. The company has a market capitalization of nearly Rs 29,683 crore. The shares of the company jumped 8% in one week and 17% in one month. In the longer term, the stock delivered 186% returns over three years and 100% returns over five years.

The high-end computing solutions provider witnessed a 4% decline in promoter stake during the quarter. Its market capitalization stands at Rs 21,340 crore. The shares of the company fell 7% in one week and 2% in one month. The stock is overall up 22% in 2026 so far, rallying 104% in one year.

Promoters of the housing finance company trimmed their stake significantly, cutting ownership by 10.3% in Q4. Aadhar Housing Finance’s market capitalization stands at Rs 20,720 crore. The shares of the company fell 2% in one week and 4% in one month. The stock is overall down 1% in 2026 so far, and up 6% in one year.

The pharmaceutical company saw a marginal reduction in promoter holding, which fell by 0.9% during the quarter. Eris Lifesciences shares have declined 6% in one month and 10% in 2026 so far.

Promoters of the tech-enabled home services platform reduced their stake by 1.3% in the March quarter. The company's market capitalization stands at Rs 18,691 crore. Urban Company shares have fallen around 1% in one week, 9% in one month and 8% in 2026 so far.

The sugar producer recorded the largest stake reduction on the list, with promoters paring their holding by 11.5% during the quarter. The company's market capitalization stands at Rs 4,231 crore. Bajaj Hindusthan Sugar shares have fallen over 7% in one week, 6% in one month, 4% in 2026 so far and 24% in one year.

The engineering firm saw a steep reduction in promoter ownership, with holdings falling by 7.3% in the final quarter of the fiscal. Lloyds Engineering shares have gained 1% in one week, 22% in one month and 31% in one year.

The affordable housing finance company witnessed a 5.4% drop in promoter shareholding in Q4. Home First Finance has a market capitalization of Rs 11,230 crore. The shares of the company have fallen 3% in one week and 5% in one month. The stock is down 11% in one year.

Promoters of Swan Defence trimmed their equity holding by 5% during the January-March period. The company’s market capitalization stands at Rs 10,009 crore. The shares of the company have gained 30% in 2026 so far and a whopping 1,128% in one year.

Promoter shareholding in GMR Power and Urban Infra slid by 4.3% during the fourth quarter. The firm's market capitalization stands at Rs 8,950 crore.

Cloud infrastructure provider E2E Networks saw a minor reduction in promoter holding, which decreased by 0.9% in Q4. Other smallcap stocks included in the list are AGI Infra (1.6%), Aeroflex Industries (1.5%), Granules India (0.8%), Century Plyboard (0.8%) and Zota Health Care (2.2%).
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