Large Cap Stock To Pay 1750% Dividend, Record Date Tomorrow, Motilal Oswal Assigns Rating

Board of Vedanta Ltd has approved third interim dividend of 17.50 per equity share (1750%) and fixed record date as November 30, 2022. The large cap company has a market capitalisation of 1,11,924.79 crore. Presently, shares of Vedanta are trading at a discount of 32% from 52-week high level. The record date is tomorrow i.e. November 30, 2022. Check key takeaways below:

1. Record Date To Pay Rs 17.50 Interim Dividend Tomorrow

The board of directors of the stock operating in Diversified sector said in the BSE filing, "In continuation to our Letter No. VEDL/Sec./SE/22-23/153 dated November 17, 2022 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of ₹ 17.50 per equity share i.e. 1750% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹ 6,505 crores."

The record date for the purpose of payment of dividend is Wednesday, November 30, 2022. The record date for the purpose of payment of dividend is Wednesday, November 30, 2022. The ex-dividend date is 29 November 2022.

2. Vedanta Ltd Stock Performance

The current market price of the stock is Rs 301 apiece with an intraday gain of 2.75%. The 52-week high of the stock is Rs 440 apiece and 52-week low is Rs 206 apiece, respectively.

3. Vedanta Ltd Return

The stock has given a return of 107% in last 3-year, 12% in last 3-months, and 5% in 1-month. The stock has declined 13% in last 1-year.

4. Motilal Oswal On Vedanta

Leading brokerage firm Motilal Oswal in its October 29, 2022 report said, "With a bearish outlook on metal prices and with a possibility of a ban leading to a run up, we reiterate our Neutral rating on VED as we believe the stock is fully valued in the current environment. We keep our SoTP-based TP unchanged at INR255. While we marginally reduce our aluminum price assumption, savings from captive/linkage coal should help partly offset the downtrend."

Consolidated Net Sales stood at INR 366b (YoY/QoQ: +21%/-5%), 6% ahead of our estimates of INR 345b. The improved Sales was driven by higher sales volume, strategic hedging gains, and foreign exchange gains, which was partially offset by lower commodity prices, added Oswal.

5. Vedanta Ltd About

The large cap company came into existence in 1965. It is a uniquely diversified company across the natural resources spectrum with interests in Oil & Gas, Zinc-Lead-Silver, Aluminium, Iron Ore, Steel, Copper, Ferro Alloys, Power, Glass Display, Optical Fibre and Semiconductors.

Over the years, Vedanta has positioned itself as a leading natural resources conglomerate, focusing on large scale expansion of its portfolio in India with operational excellence benchmarked to global standards.

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. 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.