Promoters and Institutions have significantly reduced their holdings, with Promoter shareholding down 9.93% YoY and Institutions down 0.15% YoY, contrasting with sector averages where both categories remained stable.

Public shareholding increased by 10.00% YoY, indicating retail interest but not enough to offset the smart money's selling trend, which is often a negative indicator for stock performance.

VL E-Governance & IT Solutions Ltd. is the worst performer in the sector based on institutional changes, highlighting a lack of confidence from smart money compared to sector peers like DELHIVERY.