Vedanta pledges nearly entire 64.92% stake in Hindustan Zinc

Vedanta, owned by Anil Agarwal, has pledged almost all of its holdings in Hindustan Zinc as collateral for loans. The company created a pledge on 13.94 crore shares or 3.3% of the total equity. This was the third instance during this financial year when the multinational mining company pledged its shares in Hindustan Zinc. Vedanta and Hindustan Zinc have reported a drop in their January-March quarter net profit. While Vedanta shares were trading higher, Hindustan Zinc shares were trading lower on the NSE.