Vedanta Dividend Live: Stock gives up gains, turns negative ahead of board meet

Vedanta Ltd. has left no stone unturned to get its balance sheet back into better shape. The Anil Agarwal-led mining major has now raised close to ₹20,000 crore through various methods, including dividends from its subsidiary Hindustan Zinc, selling shares of Hindustan Zinc and even selling its own shares to institutional shareholders.

The company has received dividends from its subsidiary Hindustan Zinc, sold shares via block deals and QIPs to raise up to ₹20,000 crore during the year.

You can read more on that here.

Earlier this month, brokerage firm Equirus had initiated coverage on Vedanta with a “buy” rating and a price target of ₹560.

It expects Vedanta’s revenue, EBITDA and net profit to grow at a Compounded Annual Growth Rate (CAGR) of 8.4%, 16% and 76.5% over financial year 2024-2027.

Equirus also said that Vedanta’s current valuations are attractive and that the ₹560 price target is for March 2026.

The mining conglomerate is also in the process of executing its demerger, where it will split its current listed entity into six separate entities.

All six entities will be listed and shareholders will be entitled to one share of every new entity for every one share they currently own.

The company intends to complete the demerger process by the end of FY25.

Out of the 15 analysts that have coverage on Vedanta Ltd., nine of them still have a “buy” recommendation on the stock.

Five other analysts who track the stock have a “hold” rating, while the other one analyst has a “sell” recommendation.

Shares of Vedanta Ltd. have opened higher on Monday ahead of the board meet to consider its fourth interim dividend.

Vedanta shares are currently trading with gains of 0.8% in the early minutes of trade at ₹523.25.

Shares of Vedanta have risen 102% so far in 2024.

This is the best calendar year performance that the stock has seen since 2021, during which the stock had risen 110%.

The stock had delivered negative returns in 2022 and 2023 as well.

Vedanta has already paid ₹35 per share as interim dividend for the current financial year.

This has already crossed the ₹29.5 per share it paid in financial year 2024.

The company had paid ₹101.5 per share in financial year 2023.

The last instance of Vedanta announcing an interim dividend was in September this year, when it announced a payout of ₹20 per share, which was the highest among the three payouts it announced so far in financial year 2025.

The board was supposed to meet in October for a fourth interim dividend but that was called off due to unforeseen circumstances.

Good Morning!

Hello and welcome to CNBC-TV18’s Live coverage of Vedanta’s board meet to announce a fourth interim dividend for financial year 2025.

The decision will be in addition to the ₹35 per share that the company has already announced previously for the current financial year.

Watch this space for all the Live updates.