🙏Namaste🙏
Today's big news in indian share market is vedanta. Today Vedanta share price plunges 9% after block deal, let's discuss about it:
First let's unfold the term block deal:
Block deal is a single transaction, of a minimum quantity of five lakh shares or a minimum value of Rs. 5 crore, between two parties which are mostly institutional players. The transaction happens through a separate trading window.
About vedanta:
Vedanta limited is an Indian multinational mining company H.Q. in Mumbai, India. With its main operations in iron ore, gold and aluminium mines in goa , Karnataka, Rajasthan and odisha.
More about vedanta you can read here.
Vedanta is always investors choice due to highest dividend paying stock. Its dividend yield rate nearby 40% which is really so high. First I also invested in this share for dividend 😅
why vedanta Ltd share falls by 9% :
One of vedanta's promoter entity, twin star holding Ltd sell a 4.3% stake in company through block deal today, aggregating up to 16 crore shares, for rs. 4136 crore.
Share of vedanta slumped 9% today in early Trade after large deals took place on the bourses. This is the biggest single day fall since june 2022 for the metal major's stock.
Today share closing price is 254.05 rs.
Day range is 247. 60 ra to 261 rs. Let's see what happened tomorrow at the last day of the week😅
Promoter and promoter group owns a 68.11% stake in vedanta, as per the shareholding pattern of the quarter ending june 2023.
Vednata promoter sell a 4.3% stake , for the propose of repaying debt, as per reports. Due to debt and some other negative news vedanta share don't perfome good now a days. But some experts said that in short term may be share will fall but in long term it will be a good choice. What do you think? Share your thoughts in the comments section 🙏
I decided to hold by stake 😄
And before investing or sell your stake please do your own study 😅