Promoter shareholding remains unchanged, indicating stability but lack of confidence in growth.

Institutional investors are significantly reducing their stake (-9.52% YoY, -1.15% QoQ), which suggests a negative outlook compared to sector averages where institutions are stable.

Public shareholding has increased (+7.43% YoY, +1.13% QoQ), but this reactive trend does not align with the selling by smart money, indicating potential volatility ahead.