Whalesbook
The shift in domestic investor sentiment is evident in substantial stake increases across several companies.
PB Fintech, a key player in online insurance and credit solutions, saw its DII holdings climb from 25.59% to 32.55% in the March quarter. This surge follows robust third-quarter performance, with revenue growing 37% year-on-year and net profit soaring 165% to Rs 1.9 billion, driven by strong growth in health and life insurance policies.
Retail Expansion
Vishal Mega Mart, a hypermarket chain focused on middle and lower-income shoppers, also attracted significant DII interest. Its ownership by domestic institutions rose from 25.47% to 32.38%. This expansion, adding 80 new stores in the nine months ending December 2025 and focusing on Tier III cities, fueled the increased confidence.
Banking Sector Focus
IndusInd Bank observed a notable jump in DII holdings, rising from 35.14% to 40.38%. This increased institutional backing aligns with the bank's strategic expansion of its gold loan business, which now covers 500 branches across India and aims to provide quick liquidity against gold holdings.
Infrastructure Investment
Bharat Heavy Electricals (BHEL), a major engineering and manufacturing enterprise, saw DII ownership increase from 17.92% to 22.44%. This interest is driven by improving financials, including an 18% turnover growth for FY26 and substantial order inflows totaling Rs 750 billion, bolstering its Rs 2.4 trillion order book.
These investments highlight a preference for established large-cap companies with solid operations and clear growth paths, even amid fluctuating global market sentiment.