Shares of Anil Agarwal-led Vedanta fell as much as 9% from their intraday high of Rs 279 on the BSE on Tuesday after media reports claimed that promoter entity Twin Star Holdings likely pared its stake through a block deal. Approximately 7.3 crore shares, worth Rs 2,149 crore, changed hands at Rs 292 apiece in the transaction.
Twin Star Holdings is Vedanta's largest promoter shareholder, holding a 40% stake in the company as of March 31, 2026. The overall promoter group owned 56.38% of Vedanta at the end of the March quarter. The number of shares that changed hands amounts to 1.7% of the company's outstanding equity.
Also read: Vedanta Aluminium vs Power vs Oil & Gas vs Iron & Steel: Which stock should you buy?
Should investors buy Vedanta shares after block deal?
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Vedanta shares have witnessed a consolidation breakdown on the daily chart, supported by a significant surge in volumes. The stock had been trading within the Rs 293–318 range since June 8 before slipping below the lower end of the band.
It has also fallen below its 100-day EMA, currently placed at Rs 284, signaling weakness in the intermediate trend. The RSI is trending lower, reflecting bearish momentum, while the MACD has slipped below the zero line, further reinforcing the negative bias. With the metals sector positioned in the lagging quadrant of the RRG, the outlook remains weak. The Rs 295–300 zone is likely to act as immediate resistance and the stock is likely to remain under pressure as long as it trades below this zone, he added.
Pravesh Gour, Senior Technical Analyst at Swastika Investmart said Vedanta stock price is currently exhibiting a weak technical structure on the daily chart, having broken below the crucial support zone of Rs 288-290. The stock is trading below its 20-day and 50-day moving averages, indicating that short-term momentum has turned negative. Momentum indicators also support this view, with the RSI slipping to around 36, reflecting weakening buying strength, while the MACD remains in bearish territory.
Immediate support is placed near Rs 279-280 around SMA-100, and a decisive breach below this level could open the door for further downside towards Rs 270-260. On the upside, the stock needs to reclaim and sustain above Rs 290-295 to ease the current selling pressure, while a move above Rs 300-308 would be required to revive bullish sentiment. Although the long-term trend remains intact as the stock continues to trade above its 200-day moving average near Rs 240, the near-term outlook remains cautious with a bearish bias.
Read more: Vedanta demerger: How will the mega restructuring impact dividend payouts for shareholders?
The stake sale comes just months after the metals and mining major completed its demerger, under which its aluminium, oil and gas, power, and iron and steel businesses were spun off into separate listed entities. The restructuring was undertaken to unlock shareholder value and create sector-focused companies with independent management and capital allocation structures.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
