Vedanta Group Stock Set To Recommend Dividend Tomorrow, Shares Fall 19%

Vedanta Subsidiary Hindustan Zinc is planning to hold meeting of Board of Directors on August 20, 2024 to consider and approve the proposal of announcing second interim dividend for FY 2024-25. Current market price of Hindustan Zinc shares on BSE is Rs 495.90 per share with decline of 4.63% in trade today. Hindustan Zinc shares witnessed steep fall of 19.29% in last 1-week and slipped over 22% in last 1-month on day 2 of the offer for sale (OFS) by promoter Vedanta. However, Hindustan Zinc shares offered 59% in last 6-months. The market capitalisation of Hindustan Zinc stood at Rs 2,09, 512.44 crore. Check details below:

Hindustan Zinc To Consider 2nd Interim Dividend On Aug 20: According to the exchange filing of Hindustan Zinc announced on August 14, 2024, "a meeting of the Board of Directors of the Company is proposed to be scheduled on Tuesday, August 20, 2024, to consider and approve the Second Interim Dividend on equity shares, if any, for the Financial Year 2024-25.

Hindustan Zinc Sets Record Date For 2nd Interim Dividend: Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Wednesday, August 28, 2024."

Vedanta Plans To Offload 3.17% Stake In Hindustan Zinc: Vedanta Ltd. owns 64.92% stake in Hindustan Zinc. It declared on Wednesday that it would now sell 13.3 crore shares of its subsidiary, amounting to 3.17% of the total equity as against the previous plan of selling 11 crore shares or 2.6% of the total equity as part of the OFS. Vedanta set the price for the Offer For Sale at Rs 486 apiece.

According to the BSE filing, "We, the Seller, refer to the notice dated August 14, 2024 ("Notice") sent by us, whereby we proposed to sell up to 5,14,40,329 Equity Shares (representing up to 1.22% of the total issued and paid-up equity share capital 19, 2024 ("T+l day'') (for Retail Investors (as defined below) and for non-Retail Investors who choose to carry forward their unallotted bids from T day), with an option to additionally sell up to 8,23,04,527 Equity Shares (representing 1.95% of the total issued and paid-up equity share capital of the Company) (the "Oversubscription Option", and in the event that the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will represent 3.17% of the total issued and paid-up Equity Share capital of the Company, i.e. 13,37,44,856 Equity Shares, and will collectively, hereinafter be referred to as "Offer Shares" while in the event that such Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will hereinafter be referred to as "Offer Shares"), through a separate, designated window of BSE and NSE (together with BSE, the "Stock Exchanges"), in accordance with the OFS Guidelines (such offer for sale hereinafter referred to as the "Offer")."

Hindustan Zinc Shares Performance: Hindustan Zinc share witnessed correction of 19.71% in last 2-weeks, gained 56% year-to-date, soared 58% in last 1-year, and jumped 77% in last 2-years. In last 5-years, Hindustan Zinc stock rallied 137%. The 52-week high price of Hindustan Zinc stock is Rs 807.00 apiece (as on 22/05/2024) and 52-week low price is Rs 285.00 apiece (as on 15/03/2024), respectively.

Hindustan Zinc Quarterly Results: The company on August 2 announced its consolidated net profit for the quarter ended June 30, 2024 quarter at Rs 2,345 crore, up 19% as compared to Rs 1,964 crore declared in the corresponding quarter of last year. The company's EBITDA surged to Rs 3,951 crore for Q1 FY25 as against Rs 3,3348 crore declared in the similar quarter of last year. EBITDA margin of Hindustan Zinc declared at 48.6% for June quarter as against 45.98% in the year-ago period. Its revenue from operations zoomed 11% YoY to Rs 7,893 crore for the quarter ended June 30, 2024.

Hindustan Zinc Previous Dividend In 2024: Hindustan Zinc on May 7, 2024 announced an Interim Dividend of Rs. 10/- per equity share i.e. 500% on face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 4,225.32 Crores. It fixed May 15, 2024 as the record date.

Hindustan Zinc Bonus Share History: It announced 1 bonus issue since March 7, 2011. Its last bonus share was announced in the proportion of 1:1 with ex-bonus date fixed as March 7, 2011.

Hindustan Zinc Stock Split History: Hindustan Zinc split the face value once since March 7, 2011. Hindustan Zinc last split the face value of its shares from Rs 10 to Rs 2 in 2011.The share traded ex-split as on March 7, 2011.

Hindustan Zinc Ltd About: Hindustan Zinc is India's largest and world's second largest integrated zinc producer. It is the 5th largest silver producers globally with an annual capacity of 800 MT. It is a subsidiary of Vedanta Limited which owns 64.9% stake in the Company while the Government of India retains a 29.5% stake. Hindustan Zinc's operations comprise lead-zinc mines, hydrometallurgical zinc smelters, lead smelters, pyro metallurgical lead-zinc smelter as well as sulphuric acid and captive power plants in northwest India, according to its official website.

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