Jane Street to Challenge SEBI’s Rs 4,843 Crore Ban Over “Index Arbitrage” Trades
Stocktwits - Shares of Hindustan Zinc (NSE:HZNC) fell nearly 6% on Wednesday after about 7.2 crore shares, representing 1.71% equity, changed hands in a large block deal valued at approximately ₹3,323 crore.
At the time of writing, Hindustan Zinc shares were trading at ₹457.4.
While official confirmation is pending, Vedanta (NSE:VDAN) is widely believed to be the likely seller, according to market reports.
Vedanta is reportedly considering offloading Hindustan Zinc shares worth ₹7,500 crore via block transactions.
SEBI-registered analyst Anupam Bajpai noted that Hindustan Zinc’s stock had been in an uptrend but started consolidating between ₹502 and ₹545, forming a rounding top chart pattern on the daily chart.
According to Bajpai, the stock closed above its 200-day moving average on June 5, 2025, after which a sharp uptrend was observed. However, consolidation resumed from June 11, and on Tuesday, the stock closed below the important support level of ₹502.
Bajpai said further downside may be seen, with the stock potentially moving towards ₹450. He added that the 200-day moving average will act as an important support, and if the stock closes below the 200-DMA, he would be further bearish.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘high’ message volume.
HINDZINC sentiment and message volume as of June 18, 11.25 am IST. Source: Stocktwits.The stock has risen 3% so far in 2025.
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