Vedanta shares tumbled over 8% on Tuesday after a large block deal worth around ₹2,149 crore took place in the stock, with approximately 7.3 crore shares changing hands at roughly ₹292 per share. The likely seller, according to market reports, was promoter entity Twin Star Holdings, which planned to sell up to 65.07 million shares at a floor price of ₹291 per share - a steep discount of 4.9% to the previous closing price of ₹305.85.
But veteran market analyst Ambareesh Baliga is not alarmed. Speaking to ET Now, Baliga said the selloff is transient and driven purely by the block deal mechanics, not any fundamental deterioration.
