Vedanta Ltd Share Price Sees a 0.39% Rise Amid Dividend Discussions

On October 9, 2024, the share price of Vedanta Ltd has been in focus, following recent corporate announcements. 

On September 25, 2024, Vedanta informed the stock exchanges about a scheduled Board of Directors meeting on October 8, 2024, to consider and approve the Fourth Interim Dividend on equity shares for the financial year 2024-25. The company also announced that the record date for determining shareholder entitlement to the dividend would be set for October 16, 2024. However, on October 8, 2024, Vedanta issued another statement postponing the board meeting to October 9, 2024.

As of October 9, 2024, Vedanta’s share price opened at ₹499.00 and reached an intraday high of ₹502.50 as of 1:57 PM, surpassing its previous close of ₹497.45. At that time, the stock was trading at ₹499.40, reflecting a 0.39% increase. Notably, Vedanta had recently touched its 52-week high of ₹523.65 on September 30, 2024, indicating strong investor interest in the stock.

Dividend Announcements

Vedanta has made several interim dividend announcements during FY 2024-25. The company has so far declared 3 interim dividends for the financial year. The third interim dividend, amounting to ₹20 per equity share and totalling ₹7,821 crore, was approved by Vedanta’s Board of Directors on September 2, 2024.

Earlier in July 2024, Vedanta announced its second interim dividend of ₹4 per equity share, amounting to ₹1,564 crore. This was preceded by the first interim dividend of ₹11 per equity share for FY 2024-25. The company has consistently offered dividends, making it appealing to income-focused investors.

Q1 FY 2025 Financial Results

Vedanta’s financial performance for Q1 FY 2025 has been positive, contributing to the rising share price. The company’s consolidated revenue for the quarter ended June 30, 2024, stood at ₹35,239 crore, marking a 1% quarter-on-quarter (QoQ) and 6% year-on-year (YoY) growth. Consolidated EBITDA grew by 15% QoQ and 47% YoY, reaching ₹10,275 crore. Profit after tax (PAT) showed a significant increase, surging by 124% QoQ and 54% YoY, amounting to ₹5,095 crore.

Additionally, Vedanta successfully raised ₹8,500 crore through one of the largest Qualified Institutional Placements (QIP) in the industry, further boosting its financial position and liquidity.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.