Last Updated on June 23, 2026 10:57 am by BIZNAMA NEWS
Vedanta Ltd. saw its stock plunge as much as 7% in early trading on Tuesday after a massive block deal involving over 116 million equity shares took place right at the market open.
The heavy sell-off dragged the metal major’s share price down to an intra-day low of ₹284.45 on the National Stock Exchange (NSE) within the first 25 minutes of the trading session.
Key Highlights of the Block Deal
- Volume Traded: By 9:40 AM, 109.2 million shares had changed hands on the NSE alone, representing nearly 3% of Vedanta’s total equity. Total volume across the NSE and BSE combined hit 116 million shares.
- The Suspected Seller: While the official buyers and sellers haven’t been finalized, reports indicate that Twin Star Holdings (a Vedanta promoter entity) was looking to offload up to 65.07 million shares.
- The Deal Value: The promoter stake sale is valued at approximately ₹1,890 crore (~$200 million).
- Steep Discount: The floor price for the deal was set at ₹291 per share, which was a steep 4.9% discount compared to Monday’s closing price of ₹305.85. The transaction reportedly includes a 90-day lock-up period on the promoter’s remaining stake.
Deepening Underperformance
Today’s drop worsens an already tough month for the mining conglomerate. Over the last 30 days, Vedanta has significantly underperformed the broader market, shedding 13% of its value even as the benchmark Nifty 50 rallied by 4.6%.
Market Note: Block deals of this size often put temporary downward pressure on a stock due to the sudden influx of supply and the discounted floor price required to attract institutional buyers.