Retail investors raising stakes in small-cap stocks for 4 straight quarters — but are they winning?

Retail investors have steadily raised their stakes in 128 smallcap stocks over the last four quarters, up to June 2025—signaling growing confidence in emerging companies. But over 100 of these stocks have witnessed negative price returns in the past year, suggesting that most retail investors are currently in the red. (Retail investor - resident individuals holding nominal share capital up to Rs 2 lakhs) Rising stakes