Dividend Stock To Sell: Large Cap Diversified Sector Stock Gets Sell Call, Target Price Rs 235

Citigroup has assigned sell call to the large cap Diversified sector stock, Vedanta Ltd with a target price of Rs 235 apiece. The stock yesterday fixed record date to pay 1750% interim dividend. It is worth noting that Vedanta declared 1st and 2nnd interim dividend of Rs 51/share. Citigroup stated, "Our outlook for aluminium and zinc is fairly muted for the next few months."

1. Vedanta Ltd Stock Performance

The current market price of the stock is Rs 307 apiece with an intraday dip of 0.79%. The stock's 52-week high is Rs 440 apiece and 52-week low is Rs 206 apiece.

2. Vedanta Ltd Market Capitalisation

The company has a market capitalisation of Rs 1,14,340 crore

3. Vedanta Ltd Return

The large cap company was incorporated in 1965. The stock has declined less than 1% in last 5-years and gained 116% in last 3-years. The stock has gained 10% in last 1-month, 17% in last 3-months, and declined 13% in last 1-year.

4. Vedanta Ltd Dividend Announcement

Vedanta Ltd has given approval to 3rd interim dividend of Rs 17.50 per equity share on November 22, 2022. The board of directors of the large cap company has decided the record date as November 30, 2022. The Board of directors of the company stated 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."

5. About Vedanta Ltd

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 Citigroup. 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.