Mumbai/IBNS, June 23 -- Shares of Vedanta Ltd. fell sharply in early trade on Tuesday after reports suggested that promoter entity Twin Star Holdings is planning to offload a stake worth around Rs 1,890 crore in the metals-to-mining conglomerate through a block deal.

The stock also touched an intraday low of Rs 284.45, reflecting investor concerns over the proposed stake sale.

According to reports, Twin Star Holdings is likely to sell around 6.5 crore shares of Vedanta through a block deal at a floor price of Rs 291 per share.

The proposed transaction is estimated to be worth approximately Rs 1,890 crore.

Market participants are closely monitoring the development as large block deals often impact stock prices in the short term due to ...