Hindustan Zinc share price falls 6% amid ₹3,300 crore block deal; promoter Vedanta likely seller
Hindustan Zinc block deal: Hindustan Zinc share price slipped over 6 per cent to ₹455.60 apiece on NSE in Wednesday’s trading session (June 18) after 7.2 crore shares changed hands in a block deal.
According to a CNBC-TV18 report, shares worth ₹3,323 crore, which is 7.2 crore shares or 1.71 per cent of the company’s equity, were traded in block deals at a price of ₹460 each.
Media reports had earlier indicated that Hindustan Zinc’s promoter Vedanta could pare its stake in the company via block deals today. While the initial deal size was pegged at ₹7,500, the block deal was downsized to nearly ₹3,300 crore.
As of the end of the March quarter, Vedanta owned 63.42% of Hindustan Zinc, according to exchange filings. The…
