2 Penny Stocks Where Promoters, FIIs and DIIs Are All Buying

#2 Indiabulls

Second is Indiabulls, trading at around Rs 29, and here the promoter buying is not merely a signal. It is the story.

In the latest quarter, all three - promoters, FIIs raised their stake.

A clarification first, because the name causes confusion. This is Indiabulls, formerly SORIL Holdings and Ventures and later Yaari Digital. It is distinct from Indiabulls Real Estate, which is now Embassy Developments, and from Indiabulls Housing Finance.

The company has repositioned itself around a real estate-led model while retaining financial services exposure through NBFC, asset reconstruction and stock broking verticals.

The larger development is that founder Sameer Gehlaut has returned to the centre of the group as the key promoter.

The promoter commitment here is documented and specific. On 3 June 2026 the board approved a capital raise of Rs 10 bn through convertible warrants priced at Rs 19.40, and shareholders approved it at an extraordinary general meeting on 2 July 2026 with 99.79% of votes in favour.

The structure allows promoter group entities to increase their stake while also bringing in non-promoter institutional capital.

That is the cleanest form of promoter conviction there is: writing a cheque at a set price rather than simply holding.

Coming to its financials, the recovery has been real. FY26 net profit came in at about Rs 3.5 bn against Rs 2.7 bn the previous year, and the March quarter was particularly strong, with revenue of Rs 4.2 bn against Rs 1.1 bn in the December quarter and profit of Rs 1.9 bn against Rs 780 million.

The first quarter of FY27 continued the momentum, with revenue of Rs 3.8 bn and profit of Rs 1.4 bn.

Investors should note several genuine concerns. The stock has already risen sharply, up roughly 91% over a year and more than 155% in six months, from a 52-week low of Rs 8.90 to around Rs 29, so a good deal of the recovery is in the price.

Its working capital days have deteriorated sharply. And the warrant issue, while a vote of confidence, will dilute existing shareholders on conversion.

For more, check out Indiabulls' financial factsheet.

Conclusion

Three groups buying the same stock is a genuinely interesting signal, and it is rarer than it sounds. But it is worth being precise about what it does and does not tell you.

What it tells you is that people with very different vantage points reached a similar conclusion in the same quarter.

What it does not tell you is a great deal more. First, promoters buy for reasons other than value. A preferential issue or warrant conversion increases promoter stake mechanically, and it is often about strengthening control or funding the business. It also dilutes everyone else.

Second, institutional percentage changes can mislead in small companies. When FII holding starts near 0.1%, a modest purchase looks dramatic in percentage-point terms while representing very little money.

Third, and most importantly, buying tells you nothing about price. GMR has already re-rated on its turnaround. And Indiabulls has risen 155% in six months.

The quality of these three stocks also varies enormously.

So treat this as a starting point for research, and remember that low-priced shares are often thinly traded, which makes both entry and exit harder than the screen suggests.

Evaluate each company's business quality, financial performance, management execution, corporate governance, and valuation as key factors before drawing any investment conclusions.

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