Vedanta shares are being sold, why are investors selling the stock
Vedanta Share Price: On 26 June 2024 (Wednesday), Vedanta shares saw a huge decline. Vedanta shares fell more than 3 percent in early morning trade. If we talk about the performance of Vedanta shares, the company has given a return of more than 50 percent in the last 1 year. Let us know why the company's stock has fallen today.
Vedanta shares fell sharply in early trade on Wednesday. Today, the company's shares were trading more than 3% lower on the Sensex. However, after some time, the company's stock price recovered.
Vedanta shares were trading at Rs 440.80 per share when this news was published, down Rs 13.25 or 2.92 percent.
A large block transaction occurred in Vedanta shares today. Because of this transaction, the company's stock has dropped. The promoter firm is likely to sell stock as part of the block deal.
According to news agency ANI, Vedanta Resources will sell a 2.6 percent stake. However, a few days ago, Vedanta shareholder Anil Agarwal had said that the promoter would not reduce its stake in the company.
According to the information available on the stock exchange, Finsider International, which has a 2.63 percent stake, will now sell its stake.
Vedanta's stock has given a very positive response. In the last 6 months, the company's stock has jumped 65 percent. At the same time, in one year, the company's stock has seen a rise of 57.95 percent.
On June 26, 2023, the price of Vedanta's stock was Rs 279.80 per share, which has increased to Rs 442.10 per share today.
