Metals-to-oil conglomerate Vedanta Ltd on Tuesday said its Board will hold a meeting on July 26 to consider and approve the second interim dividend, if any, for the financial year 2024-25 (FY25). The company had declared an interim dividend of Rs 11 per share for FY25 in May this year.
“Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the meeting of the Board of Directors of the company is proposed to be scheduled on Friday, July 26, 2024, to consider and approve the Second Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” it stated in a BSE filing today.
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The record date for the purpose of determining the entitlement of equity shareholders for the said dividend, if declared, is being fixed as Saturday, August 3, 2024, it added.
“Further, pursuant to the provisions of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Code of the Company, the Trading Window shall continue to remain closed for dealing in securities of the Company for all Designated Persons till the expiry of 48 hours after the declaration of unaudited financial results of the Company for the First Quarter ended June 30, 2024,” Vedanta further stated.
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The dividend announcement came post-market hours today. Earlier in the day, Vedanta shares settled 3.10 per cent lower at Rs 434.95. At this price, the stock has climbed 12.73 per cent on a year-to-date (YTD) basis.
The counter saw high trading volume on BSE as around 21.05 lakh shares changed hands today. The figure was higher than the two-week average volume of 7.71 lakh shares. Turnover on the counter came at Rs 90.47 crore, commanding a market capitalisation (m-cap) of Rs 1,61,679.47 crore.
On the technical setup, the counter traded lower than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but higher than the 100-day, 150-day and 200-day SMAs.
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The counter’s 14-day relative strength index (RSI) came at 42.21. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company’s stock has a price-to-equity (P/E) ratio of 25.19 against a price-to-book (P/B) value of 2.55. Earnings per share (EPS) stood at 17.82 with a return on equity of 10.11.
As of June 2024, promoters held a 59.32 per cent stake in the company.
