4.91% Dividend Yield: Vedanta Recommends Interim Dividend, Nuvama Issues Buy Call

Vedanta Ltd shares today gained 3.51% on BSE. Current market price of Vedanta Ltd share on BSE is Rs 447.00 per share. Today, the large cap company recommended second interim dividend of Rs 4/- per equity share on the face value of Re 1/- per equity share for the financial year 2024-25. Vedanta shares offered return of 70% in last 6-months and 74% year-to-date. Vedanta Ltd has a market capitalisation of Rs 1,74,794.02 crore. More details below:

Vedanta Ltd Recommends Dividend: As per the regulatory filing of Vedanta Ltd issued as on July 26, 2024, "In continuation to our Letter No. VEDL/Sec./SE/24-25/108 dated July 23, 2024 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of Vedanta Limited (the "Company"), at its meeting held today i.e. Friday, July 26, 2024, has considered and approved the Second Interim Dividend of Rs 4/- per equity share on face value of Re 1/- per equity share for the Financial Year 2024-25 amounting to c. ₹ 1,564 Crores.

As intimated earlier, the record date for the purpose of payment of dividend shall be Saturday, August 03, 2024, and the interim dividend shall be duly paid within the stipulated timelines as prescribed under law.

Vedanta Dividend History: Vedanta announced 43 dividends since July 23, 2001. In last 1-year, Vedanta announced an equity dividend amounting to Rs 22.00 per share. At the current share price of Rs 447.00, Vedanta offers a dividend yield of 4.91%.

Should You Buy Vedanta Shares? Several leading analysts have recommended buy call for Vedanta shares with highest target price of Rs 644 per share. Brokerage firm Nuvama has issued buy call with target price of Rs 644. Philip Capital assigned buy call to Vedanta Ltd stock with target price of Rs 552. Meanwhile, IIFL too suggested buy call as the analyst upgraded Vedanta from Add to Buy and increased the target price too from Rs 416 to Rs 525.

Vedanta Shareholding Pattern: Promoters have decreased holdings from 61.95% to 59.32% in June 2024 quarter. FII/FPI have increased holdings from 8.77% to 10.23% in June 2024 quarter. Number of FII/FPI investors increased from 674 to 787 in June 2024 quarter. Mutual Funds have increased holdings from 3.55% to 5.34% in June 2024 quarter. Number of MF schemes increased from 31 to 32 in June 2024 quarter, according to Trendlyne. Meanwhile, Life Insurance Corporation Of India (LIC) has 7.72% stake in Vedanta with 301,795,347 shares of the company.

Vedanta Limited Share Performance: The 52-week high price of Vedanta Limited share on BSE is Rs 506.85 apiece (as on 22/05/2024) and 52-week low price is Rs 207.85 per share (as on 28/09/2023). Vedanta shares gained 1.69% in last 1-week, gained 60% in last 1-year, offered return of 85% in last 2-years, and offered return of 64% in last 3-years.

Vedanta Bonus Share History: Vedanta recommended 2 bonus issues since February 16, 2005. The last bonus issue that Vedanta declared was in the ratio of 1:1 with ex-date fixed as August 8, 2008.

Vedanta Stock Split History: Vedanta split the face value of its share once since August 8, 2008. Vedanta last split the face value of its shares from Rs 10 to Re 1 in 2008. Vedanta share traded ex-split as on August 8, 2008.

Vedanta Financial: Vedanta declared 27% fall in Q4 profit ended March 31, 2024 amid soaring finance expenses and sluggish metals prices such as zinc, copper, and aluminium. Vedanta's net profit fell to Rs 1369 crore for Q4 ended March 31, 2024 as against Rs 1881 crore net profit declared in the corresponding quarter of last year. Vedanta declared a dip of 6% in its revenue from operations to Rs 34,937 crore for March quarter and remained slightly changed, sequentially.

Disclaimer:

The stock has been picked from the brokerage report of Nuvama, Philip Capital, and IIFL. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.