Vedanta shares fall over 6% as US Dollar bonds continue to lose value

Prices of Vedanta Resources' dollar bonds continued to slide, following the government’s decision to oppose the company's bid to sell its international zinc operation to Hindustan Zinc Ltd.

The company's dollar bonds due in April 2026, March 2025, and August 2024 have come off anywhere between 17-18 percent since January 20. While the 13.875 percent note due 2024 slid 13.5 percent, bonds maturing in 2023 with coupon rates of 8.23 percent and 7.125 percent are down 4 percent each.