Dividend Yield 33.01%: After Hitting 52-Week Low, Vedanta Shares Rally Today

Vedanta shares witnessed gain of over 1% in morning trade on Thursday after witnessing 52-week low level on Wednesday. Current market price of Vedanta stock is Rs 211.40 per share with intraday rally of 1.17% at the time of writing the story (10:18 am). Earlier on September 27, Moody's Investors Service downgraded the corporate family rating of parent Vedanta Resources to Caa2 from Caa1. Moody's also maintained a "negative" outlook.

"The downgrade reflects the elevated risk of debt restructuring over the next few months because VRL has not made any meaningful progress on refinancing its upcoming debt maturities, in particular the USD 1 billion bonds maturing each in January 2024 and August 2024," stated Kaustubh Chaubal, a Moody's Senior Vice President and lead analyst on VRL.

Vedanta Stock Outlook & Return Over Years: Current market price of Vedanta stock is Rs 211.40 apiece on BSE. Its 52-week high price is Rs 340.75 apiece and 52-week low price is Rs 208.00 apiece, respectively. The company has a market capitalisation of Rs 78,581.54 crore. Vedanta shares fell 33% year-to-date, declined 18% in last 1-year, and slipped 27% in last 2-years. Currently, Vedanta share is trading near its 52-week low price. Vedanta stock offered return of 51% in last 3-years.

Vedanta Dividend History: Vedanta has announced 40 dividends since July 23, 2001. In last 12-months only, the company declared an equity dividend amounting to Rs 69.00 per share. If the current market price of Vedanta stock is taken into consideration, it offers a dividend yield of 33.01%, according to data obtained from Trendlyne. Earlier this year in August, Vedanta Resources sold nearly 4.3 stake in Vedanta for whopping $500 million to cut the pressure caused from its forthcoming cash requirements.

Vedanta About: Vedanta Limited is one of the world's foremost natural resources conglomerates, with primary interests in aluminium, zinc-lead-silver, oil and gas, iron ore, steel, copper, power, ferro alloys, nickel, semiconductor and glass. With world-class strategic assets based across India, South Africa, Namibia and Liberia, we are rightly positioned to create long-term value with superior cash flows, according to its official website.

Disclaimer

The stock just highlights the dividend yield, rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.