JM Financial in its latest ‘strategy’ report listed out companies which saw a fall in promoter shareholding in the January-March quarter of the financial year 2026. Hindustan Zinc and IRFC were the two large-cap companies, while BHEL, Lloyds Metals, Coromandel International and Vishal Mega Mart were the four midcap companies which were part of the list. In the smallcap space, as many as 18 companies saw their promoter shareholding decrease in Q4 FY26, as per the domestic brokerage’s report. Stake play