Holy trinity! Promoters, FIIs and mutual funds raised stakes in these 9 stocks; 3 turned multibaggers

In a rare alignment, Dalal Street’s three key investor groups—promoters, foreign institutional investors (FIIs) and mutual funds—simultaneously raised stakes in nine stocks during the June quarter, three of which delivered multibagger returns over the past year.

Cupid led the pack with a staggering 732% one-year gain, followed by United Foodbrands at 215% and Yasho Industries at 153%, according to market data. All three stocks have also more than doubled in CY26, gaining 176%, 295% and 202%, respectively, through August 24.

The ownership shifts were most pronounced in Cupid. FII holding in the company jumped to 4.17% in June from 1.01% in March, an increase of 316 basis points. Promoter ownership rose to 46.24% from 46.03%, while the mutual fund stake more than doubled to 0.33% from 0.15%, shows ACE Equity data.


United Foodbrands recorded the biggest mutual fund stake increase in the nine-stock pack. Fund ownership climbed 200 basis points to 12.94%, while the FII holding rose to 10.55% from 9.66%. Promoter ownership edged higher to 34.61% from 34.59%.

In Yasho Industries, promoters raised their holding to 67.94% from 67.91%. Mutual fund ownership increased to 0.58% from 0.50%, while the FII stake rose to 5.74% from 5.70%.

The wider basket, however, shows that the three-way ownership convergence was not restricted to stocks already delivering explosive gains. Welspun Living advanced 60% over one year, while Zydus Wellness gained nearly 29%. GMR Airports rose 10.5% over the same period, although it remained down about 5% in CY26.

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GMR Airports registered the biggest promoter stake increase in the dataset, with ownership rising 83 basis points to 67.16%. FIIs raised their stake by 155 basis points to 21.74%, while mutual fund ownership increased by 19 basis points to 2.51%.

Three companies remained in negative territory over the one-year period despite the simultaneous increase in holdings. Eveready Industries India declined 19.4%, IRB Infrastructure Developers fell 13.6% and Deepak Nitrite slipped 4.2%.

Eveready’s promoter holding increased by 40 basis points to 43.60%, while FII and mutual fund ownership rose by 16 basis points and two basis points, respectively. In Deepak Nitrite, mutual funds raised their stake by 44 basis points to 11.45%, even as the stock remained almost unchanged in CY26. IRB Infrastructure was down 10% in CY26, but all three investor categories marginally increased their holdings.

Overall, six of the nine stocks delivered positive one-year returns, while three became multibaggers. The basket’s median return stood at 28.9%. Its average return was substantially higher at 129%, though the figure was heavily skewed by Cupid’s 732% surge.

Cupid also recorded the biggest combined increase in FII and mutual fund ownership at 334 basis points. It was followed by United Foodbrands at 289 basis points and GMR Airports at 174 basis points.

The divergence in performance—from a 732% gain in Cupid to a 19% decline in Eveready—indicates that the ownership screen captures both momentum and contrarian positioning. It also warrants selectivity, as promoter stake increases in several companies were only marginal.

“Domestic institutional investors (DIIs) have remained consistent equity buyers, providing strong domestic support. Foreign institutional investors (FIIs), after a prolonged selling phase, have shown early signs of returning, with incremental buying in July and August,” said Avinash Agarwal, senior vice president and head of equity at Bandhan Life.

“While flows remain modest, the stabilisation is encouraging and could strengthen if global capital flows rotate back towards India,” he said.

PL Wealth maintains a selective approach to equities across investment horizons. Over the short term, it recommends staggered deployment into quality large-cap and large-and-mid-cap stocks amid elevated crude prices and uncertainty over global interest rates.

Over the medium term, improving domestic growth conditions could support greater exposure to large private banks, capital goods and consumer durables, alongside selective allocations to quality small-cap, flexi-cap and multi-cap strategies, according to PL Wealth. Its long-term view remains underpinned by demographics, domestic capital expenditure, financial deepening, defence indigenisation and energy security.

“Overall, the combination of resilient earnings, supportive domestic flows and attractive opportunities across market segments reinforces our constructive long-term outlook, while a diversified approach remains key to navigating near-term volatility,” Agarwal said. “We remain selectively positive on equities, with a diversified multi-cap approach offering flexibility to capture opportunities across market cycles.”

(Data: Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)