Home / Business and Economy / Vedanta Stock Plummets Amidst Promoter Stake Sale Fears
Vedanta Stock Plummets Amidst Promoter Stake Sale Fears
23 Jun
Summary
- Vedanta shares dropped significantly, losing up to 6% from their intraday peak.
- Reports suggest promoter entity Twin Star Holdings likely reduced its stake.
- A substantial block deal involved approximately 7.3 crore shares valued at Rs 2,149 crore.
Vedanta's stock saw a notable decrease, sliding as much as 6% from its intraday high of Rs 287 on Tuesday. The decline followed media reports indicating that Twin Star Holdings, a promoter entity, likely divested a portion of its shareholding through a substantial block deal. This transaction involved approximately 7.3 crore shares, valued at Rs 2,149 crore, and was executed at Rs 292 per share.
Twin Star Holdings is Vedanta's largest promoter shareholder, holding a significant 40% stake as of March 31, 2026. The broader promoter group collectively owned 56.38% of the company at the end of the March quarter. The shares traded in this block deal represent about 1.7% of Vedanta's total outstanding equity, raising concerns among investors about potential shifts in promoter confidence or strategy.
