India's broader markets are having a party of their own even as the benchmark indices are stuck in a range. The Nifty Midcap index is hitting new highs daily, while the Smallcap index is also within touching distance of its record high it hit in early 2022.
However, certain stocks which have had heavy retail holdings have disappointed and not generated much returns for shareholders. According to data from the Ace Equity database, majority of the retail-owned stocks have fared poorly so far this year.
For example, 11 BSE 500 companies had their retail holding in excess of 25 percent at the end of the June quarter. Stocks like Indiabulls Housing Finance, IEX, Polyplex have retail shareholding between 30-40 percent, but these stocks have corrected anywhere between 11-30 percent so far in 2023.
| Stock | Retail Shareholding | Returns In 2023 |
| Polyplex Corporation | 27.80% | -28.40% |
| Deepak Fertilisers | 25.15% | -22.60% |
| Indiabulls Real Estate | 39.79% | -21.50% |
| Borosil Renewables | 25.25% | -12.00% |
| Indian Energy Exchange | 39.14% | -11.10% |
However, there are outliers too. Stocks like Happiest Minds, Tata Elxsi and Praj Industries, who also have shareholding in excess of 25 percent on the BSE 500, have delivered positive returns so far this year.
| Stock | Retail Shareholding | Returns In 2023 |
| Praj Industries | 27.59% | 37.50% |
| Tata Elxsi | 31.40% | 11.40% |
| Happiest Minds | 28.04% | 3.40% |
On the flip side, shares of Aarti Drugs, where retail investors have cut their holdings by nearly a percent since last year, are up 25 percent so far in 2023. The top performers on the BSE 500 index, JBM Auto, Apar Industries and Zensar Technologies, have also witnessed a gradual decline in their holdings. These top performers have gained anywhere between 150-200 percent so far in 2023.
| Stock | Holding Cut | Returns In 2023 |
| Aarti Drugs | -0.13% | 25.15% |
| JBM Auto | -0.33% | 190.00% |
| Apar Industries | -0.08% | 166.00% |
| Zensar Tech | -2.47% | 140.00% |
(Edited by : Hormaz Fatakia)
First Published: Aug 24, 2023 8:36 AM IST
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