Synopsis: Marksans Pharma, GMDC, Data Patterns, Voltamp Transformers, Inox Green Energy, and Swan Defence saw higher FII and DII holdings in Q4 FY26, indicating improving institutional confidence and growth prospects.
In the stock market, changes in institutional holdings often signal growing confidence in a company’s future. During Q4 FY26, several small-cap stocks saw increased stakes from both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs). This trend suggests that these companies are gaining attention for their business performance and growth potential. In this article, we look at such small-cap stocks and what makes them attractive to institutional investors. Listed below are small-cap stocks in which Foreign Institutional Investors and Domestic Institutional Investors have increased their stake in Q4 FY26
Marksans Pharma Limited
With a market capitalization of Rs. 9,069 crore, the shares of Marksans Pharma Limited closed at Rs. 200 per equity share, rising nearly 0.87 percent from its previous day’s close.
In March 2026, Marksans Pharma Limited had a majority stake held by the promoters at 43.87 percent, foreign institutional investors at 16.76 percent, domestic institutional investors at 6.57 percent, and the public at 32.78 percent.
FII has increased its stake in Marksans Pharma Limited from 8.13 percent in December 2025 to 16.76 percent in the March Quarter 2026, an increase of 8.63 percent. Additionally, DII has also raised its stake from 5.91 percent in December 2025 to a 6.57 percent stake in the March Quarter 2026, up 0.66 percent.
Marksans Pharma Limited is an Indian pharmaceutical company engaged in developing, manufacturing, and marketing generic drugs across various therapeutic areas. Known for its focus on regulated markets such as the United States, the United Kingdom, and Australia, the company emphasizes affordable healthcare through high-quality formulations.
Gujarat Mineral Development Corporation Limited
With a market capitalization of Rs. 21,101 crore, the shares of Gujarat Mineral Development Corporation Limited closed at Rs. 664 per equity share, rising nearly 3.20 percent from its previous day’s close.
In March 2026, Gujarat Mineral Development Corporation Limited had a majority stake held by the promoters at 74 percent, foreign institutional investors at 3.76 percent, domestic institutional investors at 0.94 percent, and the public at 21.31 percent.
FII has increased its stake in Gujarat Mineral Development Corporation Limited from 2.30 percent in December 2025 to 3.76 percent in the March Quarter 2026, an increase of 1.46 percent. Additionally, DII has also raised its stake from 0.86 percent in December 2025 to a 0.94 percent stake in the March Quarter 2026, up 0.08 percent.
Gujarat Mineral Development Corporation Limited (GMDC) is a state-owned enterprise headquartered in Ahmedabad, India. Established in 1963, it operates under the Government of Gujarat and is one of India’s leading mining public sector undertakings (PSUs). GMDC focuses on the exploration and production of minerals critical to Gujarat’s industrial growth and energy needs.
Data Patterns (India) Limited
With a market capitalization of Rs. 23,574 crore, the shares of Data Patterns (India) Limited closed at Rs. 4,211per equity share, rising nearly 3.67 percent from its previous day’s close.
In March 2026, Data Patterns (India) Limited had a majority stake held by the promoters at 42.41 percent, foreign institutional investors at 12.47 percent, domestic institutional investors at 11.68 percent, and the public at 33.43 percent.
FII has increased its stake in Data Patterns (India) Limited from 11.54 percent in December 2025 to 12.47 percent in the March Quarter 2026, an increase of 0.93 percent. Additionally, DII has also raised its stake from 10.27 percent in December 2025 to an 11.68 percent stake in the March Quarter 2026, up 1.41 percent.
Data Patterns (India) Limited is a Chennai-based defense and aerospace electronics company specializing in indigenously developed high-reliability systems for strategic sectors. Founded in 1998, it has become one of India’s fastest-growing vertically integrated defense electronics manufacturers, supplying mission-critical solutions across land, air, sea, and space platforms.
Voltamp Transformers Limited
With a market capitalization of Rs. 9,522 crore, the shares of Voltamp Transformers Limited closed at Rs. 9,412 per equity share, rising nearly 1.52 percent from its previous day’s close.
In March 2026, Voltamp Transformers Limited had a majority stake held by the promoters at 30 percent, foreign institutional investors at 22.82 percent, domestic institutional investors at 31.66 percent, the government at 0.05 percent, and the public at 15.47 percent.
FII has increased its stake in Voltamp Transformers Limited from 21.78 percent in December 2025 to 22.82 percent in the March Quarter 2026, an increase of 1.04 percent. Additionally, DII has also raised its stake from 31.38 percent in December 2025 to a 31.66 percent stake in the March Quarter 2026, up 0.28 percent.
Voltamp Transformers Limited is an Indian manufacturer of power and distribution transformers, headquartered in Vadodara, Gujarat. The company plays a significant role in India’s electrical infrastructure sector by supplying transformers for utilities, industries, and infrastructure projects across the country.
Inox Green Energy Services Limited
With a market capitalization of Rs. 7,251 crore, the shares of Inox Green Energy Services Limited closed at Rs. 181 per equity share, rising nearly X percent from its previous day’s close.
In March 2026, Inox Green Energy Services Limited had a majority stake held by the promoters at 56.12 percent, foreign institutional investors at 8.74 percent, domestic institutional investors at 1.50 percent, and the public at 33.65 percent.
FII has increased its stake in Inox Green Energy Services Limited from 7.57 percent in December 2025 to 8.74 percent in the March Quarter 2026, an increase of 1.17 percent. Additionally, DII has also raised its stake from 1.41 percent in December 2025 to a 1.50 percent stake in the March Quarter 2026, up 0.09 percent.
Inox Green Energy Services Limited is an Indian renewable energy services company focused on long-term operation and maintenance (O&M) of wind and other renewable power assets. It is a subsidiary of Inox Wind Limited and part of the broader INOXGFL Group, positioning it as a specialized O&M platform within the group’s renewable energy vertical.
Swan Defence and Heavy Industries Limited
With a market capitalization of Rs. 9,863 crore, the shares of Swan Defence and Heavy Industries Limited closed at Rs. 1,872 per equity share, falling nearly 1.49 percent from its previous day’s close.
In March 2026, Swan Defence and Heavy Industries Limited had a majority stake held by the promoters at 89.90 percent, foreign institutional investors at 0.60 percent, domestic institutional investors at 2.05 percent, and the public at 7.44 percent.
FII has increased its stake in Swan Defence and Heavy Industries Limited from 0.01 percent in December 2025 to 0.60 percent in the March Quarter 2026, an increase of 0.59 percent. Additionally, DII has also raised its stake from 0.38 percent in December 2025 to a 2.05 percent stake in the March Quarter 2026, up 1.67 percent.
Swan Defence and Heavy Industries Limited is an Indian shipbuilding and defense manufacturing company engaged in constructing naval and commercial vessels. It operates in the maritime defense sector, contributing to India’s naval modernization and industrial self-reliance under the Make in India initiative.
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