Promoter shareholding increased by 25.83% YoY, significantly outpacing sector averages where Promoter holdings remained unchanged.

Institutional holdings rose by 2.17% YoY, while the sector showed no change, indicating smart money confidence in Religare against a stagnant sector backdrop.

Public shareholding declined by 41.51% YoY, contrasting with the growth in smart money, suggesting a potential opportunity for value investors.