Vedanta stock hits 52-week high after board clears third interim dividend

Shares of Vedanta hit a fresh 52-week high today after the firm's board approved a third interim dividend of Rs 13 per equity share. The dividend on a face value of Re 1 per share for the current financial year 2021-2022, amounts to Rs 4,832 crore.

Vedanta stock opened with a gain of 3.27 per cent at Rs 400 against the previous close of Rs 387.35 on BSE. The stock touched an intraday high of Rs 400.95, rising 3.51 per cent on BSE.

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

Vedanta shares have gained 15.6 per cent in the last 4 days. Vedanta shares have risen 78.33 per cent in last one year and gained 14.57 per cent since the beginning of this year.

Market cap of the firm rose to Rs 1.42 lakh crore on the BSE. A total of 7.62 lakh shares of the firm changed hands, amounting to a turnover of Rs 29.85 crore.

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The board of the Anil Agarwal-led firm said the record date for the purpose of payment of dividend is Thursday, March 10, 2022.

Vedanta's net profit rose 26.2 per cent in consolidated net profit at Rs 4,164 crore in Q3 against a consolidated net profit of Rs 3,299 crore in the year-ago period.

Its consolidated income during the October-December period increased to Rs 34,674 crore from Rs 23,621 crore in the year-ago period.

Vedanta has earmarked $15 billion for foray into electronic chip and display manufacturing space, and plans to scale up investment to as much as $20 billion (about Rs 1.5 lakh crore), news agency PTI reported.