Vedanta shares edge higher, cross Rs 500 mark post disclosure of 4th interim dividend date

Shares of Vedanta Ltd rose over 5% on Thursday after the metal and mining firm said its board would consider fourth interim dividend for FY25 on Tuesday, October 8. Vedanta stock rose 5.24% to Rs 504.75 in the afternoon session against the previous close of Rs 479.60 on BSE. Market cap of the firm climbed to Rs 1.96 lakh crore. A total of 14.38 lakh shares of the firm changed hands amounting to a turnover of Rs 70.82 crore on BSE. Later, the Vedanta stock closed 4.64% higher at Rs 501.85 on BSE.   

Vedanta shares have a one-year beta of 1.2, indicating high volatility during the period.  In terms of technicals, the relative strength index (RSI) of Vedanta stands at 63.9, signaling the stock is trading neither in the oversold nor in the overbought territory.

Vedanta has fixed Wednesday, October 16, as record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared.

In terms of returns, the stock gained 95% in 2024 and rose 124.35% in a year. In five years, the stock has risen 202%. The large cap stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages signaling the stock is trading in bullish zone.

On September 2, Vedanta announced the third interim dividend of Rs 20 per share for FY25, with September 10 as the record date. Earlier, the Anil Agarwal-led company announced interim dividends of Rs 4 per share and Rs 11 per share, respectively. Vedanta has already announced dividends worth Rs 35 per share for FY25. Promoters owned 56.38 per cent stake in Vedanta as on June 30.

Vedanta Ltd is a subsidiary of Vedanta Resources Ltd and has operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.