Vedanta shares in focus today ahead of meeting on interim dividend

Shares of Anil Agarwal-owned Vedanta Ltd are in news today after the metal and mining firm said that it would hold a board meeting on Monday, December 16 to consider a fourth interim dividend. The board meeting scheduled to be held in October was cancelled due to unforeseen circumstances.

Vedanta stock ended 2.79% higher at  Rs 514.10 on BSE on Wednesday. Market cap of the firm climbed to Rs 2.01 lakh crore. This is the first time market cap of the Anil Agarwal-led metals and mining firm ended above the the Rs 2 lakh crore mark at Rs 2.01 lakh crore. A total of 12.07 lakh shares of the firm changed hands amounting to a turnover of Rs 62.42 crore on BSE. 

Vedanta shares have a one-year beta of 1.3, indicating high volatility during the period. In terms of technicals, the relative strength index (RSI) of Vedanta stands at 74.2, signaling the stock is overbought on charts.

"The meeting of the board of directors of the company is scheduled to be held on  16/12/2024 to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25," the firm said in a communication to bourses.

"Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Tuesday, December 24, 2024," added Vedanta.  

The record date for the fourth interim dividend has been fixed as December 24 this year.

In September this year, the company declared its third interim dividend of Rs 20 per share, following two earlier announcements of Rs 11 and Rs 4, respectively.

The company has paid Rs 35 as interim dividend in the financial year 2025.