Vedanta shares fall 5% on profit-booking

Vedanta’s scrip plunged 5.39 percent to Rs 157.20 on BSE due to profit-booking on September 27, a day after it jumped 6.47 percent.

Shares of Vedanta logged healthy gains on September 26 after reports emerged that the government was looking to sell residual stake in Hindustan Zinc.

CNBC TV18 had reported that the government, which currently holds 29.5 percent in Hindustan Zinc, is open to selling residual stake in the company via OFS on favourable Supreme Court order.

The Supreme Court had stayed the government’s effort to sell stake in the company in 2016 which delayed the complete control of Hindustan Zinc by Vedanta.

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