Vedanta Dividend: Should You Buy/Sell Vedanta Shares After Latest Dividend Update?

Large cap company engaged in diversified sector, Vedanta Limited recently left its shareholders disappointing after issuing fresh update on dividend announcement. Last trading price of Vedanta Limited shares on BSE is Rs 497.40 per share. Vedanta Limited shares also faced the consequences after the latest corporate action of the company. The scrip declined 2.26% in last 1-week and slipped over 3% in last 2-weeks. However, Vedanta shares gave shareholders phenomenal returns of 118% in last 1-year and shares rose 93% so far this year.

The company's market capitalisation stood at Rs 1,94,502.70 crore. The ROE of Vedanta stood at 11.29 and PE is 26.29. The face value of Vedanta share is Re 1 per share. Check details below:

Vedanta Limited Shares Issues Fresh Update On Dividend On Oct 11: The company after cancelling the dividend announcement twice on October 8 and then on October 9, decided to cancel the record date for dividend as well which was fixed for October 16, 2024. The dividend was supposed to be declared on October 8 but the company postponed the announcement due to unforeseen circumstances and shifted the dividend announcement date to October 9, 2024. As per the October 11, 2024 BSE filing of the company, "further to the Meeting Update filed vide Letter No. VEDL/Sec./SE/24-25/179 dated October 09, 2024, it may also be noted that the record date fixed also stands cancelled."

Vedanta Shares Performance: The 52-week high price of Vedanta Limited shares on BSE stood at Rs 523.60 per share (as on 30/09/2024) and 52-week low price is Rs 211.25 per share (as on 26/10/2023), respectively. Vedanta Limited shares gained 17% in last 1-month, soared 38% in last 6-months, and surged 74% in last 2-years. In last 5-years, Vedanta shares rallied 238%.

Vedanta Previous Dividend In 2024: Vedanta Limited on September 2, 2024 announced 3rd interim dividend of Rs 20/- per equity share on the face value of Re 1/- per equity share for the financial year 2024-25 amounting to Rs 7821 crores. Vedanta fixed September 10, 2024 as the record date for third interim dividend.

Should You Buy Vedanta Dividend After Dividend Announcement Cancelled? According to A R Ramachandran, Independent SEBI Research analyst, "Vedanta is sideways to bearish on the Daily charts with strong resistance at 504. A Daily close above this resistance could lead to target of 522 in the near term. Strong support will be at 484.6."

Vedanta Shareholding Pattern: Promoters have decreased holdings from 61.95% to 59.32% in June 2024 quarter. FII/FPI have increased holdings from 8.77% to 10.23% in June 2024 quarter. Number of FII/FPI investors increased from 674 to 787 in June 2024 quarter. Mutual Funds have increased holdings from 3.55% to 5.34% in June 2024 quarter. Number of MF schemes increased from 31 to 32 in June 2024 quarter, according to Trendlyne. Meanwhile, Life Insurance Corporation Of India (LIC) has 7.72% stake in Vedanta with 301,795,347 shares of the company.

Vedanta Bonus Share History: Vedanta recommended 2 bonus issues since February 16, 2005. The last bonus issue that Vedanta declared was in the ratio of 1:1 with ex-date fixed as August 8, 2008.

Vedanta Stock Split History: Vedanta split the face value of its share once since August 8, 2008. Vedanta last split the face value of its shares from Rs 10 to Re 1 in 2008. Vedanta share traded ex-split as on August 8, 2008.

Disclaimer: The stock has been picked from the brokerage report of A R Ramachandran. 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.