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The list includes Jio Financial, Bharti Airtel, Reliance Industries, Maruti Suzuki India, HDFC Life Insurance, HCL Technologies, UltraTech Cement and Mahindra & Mahindra. The trend comes during a weak phase for largecap equities. Nifty has declined about 10% this year, with pressure coming from external macroeconomic and technical factors rather than a broad-based selloff across the market. Jio Financial sees biggest promoter increase Jio Financial Services saw the sharpest promoter holding increase among the eight stocks. Promoter and promoter group holding rose from 47.12% in December 2025 to 49.13% in June 2026, an increase of 2.01 percentage points. The stock, however, is down 21% so far this year. The fall reflects investor caution around valuations and the time it may take for the company to scale its financial services businesses meaningfully. Jio Financial remains a long-term platform play in lending, payments, insurance and asset management, but the market has turned more demanding after the initial excitement around the demerged entity. The higher promoter holding may be read as a sign of continued confidence in the business build-out, but the stock’s fall shows that investors are still waiting for visible earnings delivery. Bharti Airtel promoters raise stake Bharti Airtel’s promoter holding rose from 48.87% to 50.07%, an increase of 1.20 percentage points. The stock is down 12.42% in 2026. The telecom major has benefited from tariff repair, premiumisation and strong demand for mobile data, but the stock has still corrected with the broader largecap market. Investors have also watched capex intensity, debt levels and the pace of average revenue per user growth. Also Read: FIIs are showering India with billions. Why are Nifty stocks missing the party? The rise in promoter holding comes at a time when the telecom sector remains one of the preferred largecap themes because of stronger industry structure and improving cash flows. Reliance, Maruti also see promoter buying Reliance Industries’ promoter holding increased from 50.01% to 50.48%, a rise of 0.47 percentage point. The stock is down 17.54% this year. Reliance has faced pressure as investors assessed growth across its energy, retail and telecom businesses. The company remains one of the largest weights in the index, so weakness in the stock also adds pressure to Nifty performance. Maruti Suzuki India saw promoter holding rise from 58.28% to 58.65%, an increase of 0.37 percentage point. The stock has fallen 24.29% this year, making it one of the weaker names in this group. The fall in Maruti comes despite its leadership in passenger vehicles. Investor concerns have centred on demand trends, competition in SUVs and electric vehicles, and whether volume growth can support valuations. The promoter stake increase, however, comes at a time when India’s auto cycle remains linked to income growth, rural recovery and consumer confidence. HDFC Life remains under pressure HDFC Life Insurance saw promoter holding rise from 50.21% to 50.54%, an increase of 0.33 percentage point. The stock is down 28.81% so far this year, the steepest fall among the eight names. Insurance stocks have faced pressure because of concerns around growth, margins, product mix and regulatory changes. HDFC Life has also been hit by investor worries over valuation and the pace of recovery in annual premium equivalent growth. The higher promoter holding gives some comfort, but the market is still asking for stronger earnings visibility. HCL Technologies saw promoter holding inch up from 60.81% to 60.88%, a rise of 0.07 percentage point. The stock is down 21.33% this year. The pressure on HCLTech is part of a broader weakness in IT stocks. Indian IT companies have been hit by slower discretionary spending, cautious client budgets and uncertainty over how artificial intelligence will affect traditional outsourcing demand. UltraTech Cement’s promoter holding rose marginally from 59.29% to 59.33%. The stock has fallen 6.58% in 2026. The cement sector remains tied to infrastructure spending, housing demand, pricing discipline and capacity expansion. Mahindra & Mahindra saw promoter holding move up from 18.44% to 18.45%, a small increase of 0.01 percentage point. The stock is down 14.81% this year. M&M remains a key play on SUVs, tractors and farm recovery, but the stock has corrected with broader largecap weakness. Largecap outlook still not broken The promoter stake increases come at a time when largecaps may be better placed than the broader market after this year’s correction. Mayur Patel, President and Fund Manager, Listed Equity, 360 ONE Asset, said the weakness in August was concentrated at the largecap index level. He attributed the fall to renewed West Asia tensions that pushed Brent crude towards $90 a barrel and continued uncertainty over the US Federal Reserve’s interest-rate path. “Over the medium term, however, I remain quite bullish,” Patel said. Patel pointed to June-quarter BSE 500 profit growth of around 20% and real GDP growth of 7.8% as signs of resilience in the earnings and macro environment. He also expects FCNR(B) inflows to support credit growth and domestic liquidity. A recovery in consumer discretionary demand and private capital expenditure could provide additional support. Patel remains positive on industrials, helped by investments in power transmission and distribution, renewable-energy equipment, electronics, defence and data centres. He is also constructive on private banks, NBFCs, consumer discretionary and telecom. The key risks remain a hawkish US Federal Reserve and any corresponding tightening bias from the Reserve Bank of India. (Data: Ritesh Presswala) Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. 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