Tracking where major institutional investors, such as Foreign Institutional Investors (FIIs) and Mutual Funds (MFs), are placing their bets is essential. Equally important is keeping an eye on where they’re pulling back. According to the latest shareholding data for the September quarter, there are so far around 413 small-cap stocks that have holdings from both FIIs and MFs. Interestingly, in 71 of these stocks, both types of institutional investors have reduced their stake compared to the June quarter.
When it comes to market performance, the picture isn’t too rosy — nearly half of these 71 stocks have delivered negative returns so far in FY26. We have highlighted the top seven underperformers, which have plunged between 15% and 60% in just under seven months of the current fiscal year. (Data Source: ACE Equity).