Vedanta Share Price: Sanjiv Bhasin says 'Rs 750 Tak Jayega...'

Authored by : Kumar Gaurav Updated May 28, 2024 | 02:20 PM IST The company in the exchange filing has said that its board has recommended paying a dividend of Rs 11 on each stock having a face value of Rs 10 to its shareholders for FY24-25.

(Image: Vedanta/ET Now News)

Vedanta Share Price : Shares of Anil Agarwal-led Vedanta have been trading higher on Thursday. The northward movement came following the news that Vedanta is considering a $1 billion share sale as soon as June. Vedanta is said to be working with advisers including Axis, Citi for share sale. The report also suggests that Vedanta could raise funds through QIP.

News Alert | Vedanta is said to weigh $1 bn share sale as soon as June"@Vedanta_Group pic.twitter.com/AUTWOVZKYy — ET NOW (@ETNOWlive) May 27, 2024

Vedanta's stock opened with gains at Rs 461.05 on the BSE. The stock has been trading in the range of Rs 471.80 - 453.20. While writing this news, Vedanta’s stock was quoted at Rs 457.35, down 0.42 per cent from its previous close.

Sanjiv Bhasin on Vedanta

Earlier this month, veteran market expert Sanjiv Bhasin, during an exclusive conversation with ET Now Swadesh, shared his bullish outlook on the company’s stock and said that Vedanta shares may scale up to Rs 750 until the demerger takes place. Vedanta, in September 2023, announced the creation of independent verticals via a demerger. The company, in a regulatory filing, had said that it will conduct a demerger of its metals, power, aluminium, oil and gas businesses.

Vedanta Q4 2024 Results

Vedanta’s consolidated profit after tax (PAT) stood at Rs 1,369 crore in the quarter under review, as against Rs 2,013 crore reported in the penultimate quarter of FY24.

The company’s consolidated revenue from operations was reported at Rs 35,509 crore in Q4FY24, as against Rs 5,541 crore reported in Q3FY24.

Vedanta’s EBITDA stood at Rs 8,768 crore in the quarter under review, as against Rs 8,531 crore reported in the penultimate quarter of FY24.

Vedanta Dividend 2024

The company in the exchange filing has said that its board has recommended paying a dividend of Rs 11 on each stock having a face value of Rs 10 to its shareholders for FY24-25. The said dividend payout, however, remains to be approved at the ensuing Annual General Meeting of the company.

“First Interim Dividend of ₹11/- per equity share on face value of ₹10/- per equity share for the Financial Year 2024-25 amounting to c. ₹4,089 Crores,” Vedanta said in a regulatory filing on the BSE.

Vedanta has also announced that the record date for the purpose of payment of the dividend shall be Saturday, May 25, 2024, and the interim dividend shall be duly paid within the stipulated timelines as prescribed under law.

Vedanta Share Price History

Vedanta Limited is a constituent of the S&P BSE 100 index. According to BSE analytics, the company's shares have offered lucrative returns to its investors by surging 15.16 per cent in the last one month, 73.82 per cent in the last three months, 94.88 per cent in the last six months, and 53.47 per cent in the last year.

Shares of Vedanta have sprinted 170.14 per cent in the last five years and 65.42 per cent in the last ten years, as per the BSE data.

Anil Agarwal-led company's shares have a 52-week range of Rs 506.85 - Rs 207.85 on the BSE.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)