Shares of Vedanta Ltd. slumped over 6% in early trade on Tuesday, June 23, after reports indicated that its promoter Twin Star is likely to offload stake worth Rs 1,890 crore in the metals-to-mining conglomerate via a block deal. Indian equity benchmarks opened lower on Tuesday. Nifty 0.2% to 24,049 in early trade, while the Sensex declined as much as 0.2%, or 160 points, to 76,934.16.
Shares of the Anil Agarwal-led group opened at Rs 294.50 against a previous close of Rs 305.85 and extnded losses to slump over 6%, hitting an intraday low of Rs 284.45 apiece on the NSE. Shares last traded 6.26% lower at Rs 286.50 apiece on the NSE. This compares to a rise of 0.11% in the Nifty 50 benchmark. The stock has shed 5% in one week, 14% in one month, and 15% on a year-to-date basis. The company commands a market cap of Rs 1,12,110.83 crore, as per exchange data.
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Vedanta Share Price Intraday
Photo Credit: AI-Generated via Gemini
According to reports, the proposed transaction in large deal could involve the sale of up to 6.5 crore shares of Vedanta at a floor price of Rs 291 per share. The floor price represents a discount of about 4.9 percent to Monday's closing price of Rs 305.85. Twin Star Holdings is Vedanta's largest promoter shareholder, holding a 40.02 percent stake in the company as of March 31, 2026. The overall promoter group owned 56.38 percent of Vedanta at the end of the March quarter.
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