Hindustan Zinc Stock Plummets 6% Amid Vedanta Stake Sale

  Published 1 year ago

Hindustan Zinc drops 6% as Vedanta sells 1.6% stake via $350M block deal at 7% discount, triggering intraday losses.

  • Vedanta holds 63% in HZNC, offloads shares at 452.50 rupees, impacting the mid-cap index.
  • 108 million shares traded; HZNC down 6% to 457 rupees, worst since April 4, 2023.
  • VDAN shares rise 0.5% despite stake sale; HZNC up 3.3% year to date.

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