Bullish Cues: Mukul Agrawal Hikes Stake in HCC, Capacit'e Infra

Marquee smallcap investor Mukul Agrawal disclosed sharply higher Q4 FY26 holdings in Hindustan Construction (HCC) at 1.91% and Capacit'e Infraprojects at 6.62%. The buys total roughly 60 lakh HCC shares and 4.5 lakh Capacit'e shares, a clear conviction bet on smallcap infra plays.

Mukul Agrawal's portfolio moves are closely tracked by retail and HNI traders, often producing follow-on buying in disclosed names. The bet aligns with the government's continued capex push and NHAI/urban infra ordering, where mid-tier EPC players like HCC and Capacit'e have improving order books and deleveraging stories.

HCC and CAPACITE are the direct beneficiaries with potential 5-10% sentiment-driven upside post-disclosure. Sympathy moves possible in peer infra/EPC smallcaps such as NBCC, JKIL, PNCINFRA, and ASHOKA. Broader Nifty Smallcap 100 sentiment gets a marginal boost.

Track Q4 FY26 earnings, order inflows, and debt reduction commentary from HCC. For Capacit'e, watch execution pace and receivables. Confirm with delivery-based volumes; avoid chasing if the stocks have already rallied 15%+ since the shareholding disclosure date.

• •Mukul Agrawal acquired ~60 lakh shares of HCC, raising stake to 1.91%
• •Added 4.5 lakh shares of Capacit'e Infraprojects, lifting stake to 6.62%
• •Both moves disclosed in Q4 FY26 shareholding pattern
• •Signals conviction in smallcap infrastructure theme