Vedanta may have a couple more tranches of promoter-driven selling; stock likely to bounce back in 1-2 weeks: Ambareesh Baliga

Vedanta shares dropped sharply after a large block deal attributed to promoter entity Twin Star Holdings, which is selling to reduce debt. Analyst Ambareesh Baliga expects further tranches of promoter selling but views the decline as temporary, projecting a rebound within one to two weeks given the company's strong operational fundamentals. The strategist also offered broader market views on the defence, textiles, and auto sectors.