Who sold and bought Adani shares?

Who sold and bought Adani shares?

Adani Group has been in bad press lately. All 7 listed Adani stocks have been hit, especially since US authorities accused the Group of bribery.

Adani Enterprises, for example, corrected by 34% before it recovered a little.

As you can see, on average, the Promoters and Institutional investors hold 90% of the shares. The public or retail investors hold just under 10%.

In fact, in a few companies, the public holding is less than 6%.

1⃣ Promoters are the majority shareholders in Adani, and they are unlikely to sell their own shares.

2⃣ Institutional investors come with patient capital. They usually do not react to short-term news. They prefer to wait, watch how things play out, and then take a call.

3⃣

 This leaves retail as the most likely candidate - reacting to news and selling the shares.

But how do we know that?

When the Adani stocks were falling, the volumes were mostly under 1 million shares, indicating retail-ish volume. The institutional volume would have been much higher⬆️.

The volumes were 20X as the stock started to bounce up recently, indicative of institutional volumes.