Vedanta Ltd. is scheduled to hold a Board of Directors meeting on Wednesday to deliberate on the potential declaration of a fourth interim dividend for the financial year 2024-25. The meeting was initially set for October 8 but was postponed due to unforeseen circumstances.
Vedanta share price opened lower on Wednesday, down 1.67%, before recovering marginally, amid anticipation of the board's decision regarding the dividend.
Also Read: Vedanta Tanks On Moody's Downgrade
So far this fiscal year, Vedanta has declared three interim dividends, with amounts of Rs 20, Rs 4, and Rs 11 per equity share. The most recent dividend, a Rs 20 per share, was approved on September 2, 2024, totaling Rs 7,821 crore.
Earlier in the fiscal year, the company announced a second interim dividend of Rs 4 per equity share in July, amounting to ₹1,564 crore, following the first interim dividend of Rs 11 per share.
The scrip fell as much as 1.67% to Rs 489.15 apiece. It pared losses to trade 0.59% lower at Rs 494.50 apiece, as of 09:58 a.m. This compares to a 0.27% advance in the NSE Nifty 50 index.
It has risen 125.85% in the last 12 months. Total traded volume so far in the day stood at 0.21 times its 30-day average. The relative strength index was at 58.
Out of 14 analysts tracking the company, eight maintain a 'buy' rating, five recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 0.8%
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