6 Stocks Where Promoters Raised Their Stake in the September Quarter

When promoters raise their stake in a company, it often sends a quiet but powerful signal to the market.

It reflects management's growing conviction in the business and a willingness to back that belief with personal capital.

For investors, such moves can serve as confidence markers, especially in periods of market uncertainty, suggesting that those closest to the business see value others might be missing.

During the September quarter, several promoters used this window to consolidate ownership through open market purchases, buybacks, or preferential issues.

Here are six stocks where promoters increased their shareholding in the September 2025 quarter.

#1 Associated Alcohols and Breweries

First on the list is Associated Alcohols.

The company is an integrated alcoholic beverage company operating the largest manufacturing facility located at a singular site. Located in Madhya Pradesh, the facility has 41 bottling lines with a collective annual capacity of 16 million (m) cases.

Promoter stake in the company has increased by about 200 basis points (bps) to 61.2%.

Promoter Shareholding

Source: Screener

In Q1FY26, the company's net revenue increased by 6% year-on-year to Rs 2.6 billion (bn). Despite flat revenue growth, profitability surged due to operational efficiency. Margins expanded by 300 basis points (bps) to 14%, while profit after tax (PAT) rose by 33% to Rs 240 m.

Looking ahead, the company's core focus is shifting towards value-added and proprietary brands, aiming for margin accretion.

Management expects IMFL (proprietary) volume growth to be around 25% to 30% over the coming years.

In addition, the management is expanding its premium portfolio, following the successful launches of Nicobar Gin and Hillfort Blended Malt Whiskey.

This is in line with the trend of premi

umization, which is growing faster than the broader IMFL.

Associated Alcohols is expanding beyond core markets like Madhya Pradesh and Kerala to become a Pan-India player in the next 1-2 years.

Recently, Maharashtra and Uttar Pradesh have been entered, and future expansion is expected in Puducherry and Goa as well.

Check out the Associated Alcohols financial factsheet and quarterly results to know more.

#2 Poonawalla Fincorp

Second on the list is Poonawalla Fincorp.

Poonawalla Fincorp (erstwhile Magma Fincorp) is backed by the Cyrus Poonawalla Group. The promoters have increased stake in the company by 150 bps to 63.9% in the September quarter.

Promoter Shareholding

Source: Screener

This came after they infused Rs 15 bn into Poonawalla Fincorp through a preferential allotment.

The company focuses on acquiring prime and super prime customers, with no new-to-credit customers. Poonawalla Fincorp aims to grow its assets under management by 5-6 times over the next 5-years.

In FY26, the company plans to expand the 'phygital' model by opening 400 branches, expand into new businesses by opening 400 gold loan branches, and diversify the portfolio across secured and unsecured products by launching 6 new products.

Poonawalla Fincorp has also entered the education loan space in April 2025. It has also launched its commercial vehicle business in 49 locations across 12 states.

The company also aims to build a customer franchise through consumer durable loans and high-yielding cross-sell models.

The expansion is also showing results. Assets under management (AUM) grew 68% year-on-year to Rs 477 bn in Q2FY26. MSMEs contributed 36% to the AUM mix, followed by loans against property (26%) and personal and consumer loans (26%).

New products contributed 8% to the total AUM and 17% to total disbursement. Secured-to-unsecured on-book mix stood at 56:44. Net-interest income (including fee and other income) rose by 40.3% to Rs 9 bn.

Asset quality also improved, with gross non-performing assets (NPA) reducing by 25 bps to 1.6%, and net NPAT at 0.8%.

As a result, the company reported a profit after tax (PAT) of Rs 740 m as against a loss of Rs 4.6 bn in Q2FY25.

Check out Poonawalla Fincorp's financial factsheet and quarterly results to know more.

#3 Indus Towers

Third on the list is Indus Towers.

Indus Towers, a subsidiary of Bharti Airtel, is India's largest telecommunications tower infrastructure company, operating in all 22 telecom circles across the country.

The company provides towers and related passive infrastructure services to telecom service providers under long-term contracts. The company managed an extensive portfolio including approximately 2.6 lakh total towers and 4.2 lakh total co-locations (including lean).

Promoter shareholding in the company has increased by 100 bps to 51%.

Promoter Shareholding

Source: Screener

From a financial perspective, revenue increased by 9.1% year-on-year to Rs 80.6 bn, driven by 10% growth in core revenue (rental) underpinned by tower and collocation additions.

However, margins declined by 710 bps to 54.5%, leading to a 9.8% fall in net profit to Rs 17.4 bn.

Looking ahead, the company expects the tower rollout to remain robust for at least the next four to six quarters. These additions are expected to lead to growth in both towers and tenancies.

Although 5G deployment has slowed, the company still expects increased demand for additional sites to ease network congestion.

Check out Indus Tower's financial factsheet and quarterly results to know more.

#4 Raymond Lifestyle

Fourth on the list is Raymond Lifestyle.

Raymond Lifestyle is the flagship company of the Raymond Group. The company offers fashion products and services with branded textile and apparel brands across formal, casual, and ethnic wear.

As of 30 June 2025, the total store count stood at 1,675. Its flagship brand, The Raymond Shop, has a network of 1,105 stores across 600 cities.

The promoters of the company increased their stake by 100 basis points to 57.1% in the second quarter of FY26. The share price is down 55% in the past one year, prompting the stake hike.

Promoter Shareholding

Source: Screener

Financial performance remained mixed. Total income rose by 18% to Rs 14.5 bn in Q1FY26, while net loss reduced to Rs 200 m, from Rs 230 m in Q1FY25.

The revenue growth was driven by branded textiles (+27%), branded apparel (+22%), and high-value cotton shirting (+10%). Garmenting revenue fell by 22% due to the U.S. tariff, leading to a lower order book.

Looking ahead, after a subdued FY25, management expects FY26 to be stronger than FY25. The company is committed to becoming a leading fashion and textile company under its Raymond Lifestyle 2.0 vision.

To this end, it plans to strengthen the "core" (branded textiles), accelerate "growth" (branded apparel and garments), and create "new categories" (ethnic wear, inner wear, sleep wear).

Raymond is betting big on Ethnix, which now operates around 140 stores across India. This business is expected to take 4-5 years to become strong and sustainable.

The company is also expected to benefit from the India-UK Free Trade Agreement, which will ensure zero-duty access for 99% of Indian exports.

The US tariffs are expected to have minimal impact, as only 7% of revenues are derived from US trade, and 3% of revenues are covered by the Ethiopian plan (10% tariff).

Check out Raymond Lifestyle's financial factsheet and quarterly results to know more.

#5 Godrej Properties

Fifth on the list is Godrej Properties.

Godrej Properties is the real estate development vertical of the Godrej Group. The company has been India's largest developer by value of residential sales for two consecutive years (FY24 and FY25).

Promoter stake in Godrej Properties increased by 30 bps to 47% in Q2FY26 after a continuous decline in the previous four quarters.

Promoter Shareholding

Source: Screener

On the financial front, the company delivered a solid quarter. Net profit surged 15% year-on-year to Rs 6 bn in Q1FY26, despite total income declining by 3% to Rs 15.9 bn. Collections rose 22% to Rs 36.7 bn.

The company achieved a booking of Rs 70.8 bn, marking the eighth consecutive quarter in which Godrej Properties exceeded Rs 50 bn of booking value. Bengaluru (Rs 30 bn), Mumbai Metropolitan Region (Rs 16 bn), and NCR (Rs 16 bn) contributed to this growth.

Looking ahead, the outlook on business development (BD) is extremely positive, driven by past success and future funding capability.

The company added 5 new projects with an estimated booking value of Rs 114 bn, achieving 57% of its annual FY26 guidance.

In addition, it still has close to Rs 600 bn worth of inventory to sell from the BD logged in the last three years.

The company estimates booking of Rs 325 bn, collections of Rs 210 bn, and delivery of at least 10 m sq. ft. in FY26.

Check out Godrej Properties' financial factsheet and quarterly results to know more.

#6 Adani Green Energy

Sixth on the list is Adani Green.

Adani Green Energy is a part of the Adani Group. The company boasts a renewable energy portfolio of about 15.8 gigawatts (GW) as of 30 June 2025.

The promoters increased their stake by 53 bps to 62.4% in the September quarter. This hike was mainly due to the conversion of warrants by the promoter entity, which injected over Rs 12.8 bn into the company.

Promoter Shareholding

Source: Screener

The company's revenue increased by 36% to Rs 38 bn in Q1FY26, while PAT rose by 31% to Rs 8.2 bn. This growth was driven by a record 42% increase in energy sales, reaching 10.5 bn units.

Looking ahead, the Adani Group is expected to be a big beneficiary of rising power demand.

India's power demand is expected to grow to 388 GW by FY32, from 250 GW in FY25. Renewable energy is expected to contribute the majority of the addition.

To cater to the demand, the company is expanding capacity. Adani Green Energy added 1.6 GW of greenfield renewable capacity during the June quarter. With this, it is on track to add a 5 GW capacity target in FY26.

The company is setting up the world's largest renewable energy plant of 30 GW at Khavda, Gujarat. As of June 2025, the operational capacity at Khavda stands at 5.6 GW across solar, wind, and hybrid energy.

An additional 5-6 GW of capacity each year is expected to be added over FY26-28. In total, it expects its capacity to reach 50 GW by FY30.

Check out Adani Green's financial factsheet and quarterly results to know more.

Conclusion

The September quarter saw promoters selectively raising their stakes in companies with clear growth visibility.

Bharti Airtel increased its holding in Indus Towers to strengthen control, Poonawalla Group infused funds to back expansion, and Adani Green converted warrants to fuel capacity growth.

Each of these moves reflects focused intent and confidence in future performance.

Across these six names, promoter actions point to conviction in business fundamentals and the belief that business will perform strongly in the coming quarters.

That said, promoter buying should not be the only criterion for investors to base their decisions on.

That's why, instead of relying on hype, it is necessary to carefully analyse the company's fundamentals, including financial performance, corporate governance practices, and growth practices.

Happy Investing.

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