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Vedanta share rises over 3% after firm announces interim dividend

Vedanta share rises over 3% after firm announces interim dividend

Vedanta stock opened with a gain of 2.37% at Rs 307 on BSE. Later, it touched an intraday high of Rs 307.85 rising 3.32% against previous close of Rs 297.95 on BSE

 Vedanta share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Vedanta share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Vedanta share rose over 3% today after the Anil Agarwal-led natural resources company's board announced an interim dividend of Rs 18.5 per share, amounting to Rs 6,877 crore.

The stock opened with a gain of 2.37% at Rs 307 on BSE. Later, it touched an intraday high of Rs 307.85 rising 3.32% against previous close of Rs 297.95 on BSE.

Vedanta share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has gained 90.24%  since the beginning of this year and risen 134.29% in one year.

Total 13.72 lakh shares changed hands amounting to turnover of Rs 41.83 crore on BSE.

Market cap of the firm rose to Rs 1.14 lakh crore on BSE.

The stock hit 52-week high of Rs 341.25 on August 16, 2021 and 52-week low of Rs 91.25 on November 4, 2020.

"The Board of Directors of the company in its meeting held on Wednesday, September 01, 2021, have approved first interim dividend of Rs 18.50 per equity share i.e. 1850% on the face value of Re 1/- per share for the financial Year 2021-22, amounting to Rs 6,877 crores," the company said.

The record date for payment of dividend is September 9 and it will be paid in stipulated timelines as prescribed under the law, it added. Vedanta said on Tuesday that it has made a contribution of Rs 2.74 lakh crore to the exchequer in the past 10 years.

Despite the challenges posed by the COVID-19 pandemic during the fiscal, Vedanta's tax contribution in FY21 was nearly Rs 550 crore higher than the previous financial year. The tax contribution includes corporate income taxes, royalties, profit-oil, and significant indirect contributions by way of withholding taxes and indirect taxes, the company added.

Published on: Sep 02, 2021, 12:02 PM IST
Posted by: Aseem Thapliyal, Sep 02, 2021, 11:55 AM IST