News

Vedanta Dividend: Vedanta’s shares barely moved on Thursday, trading in a narrow range as investors waited for the company’s board meeting later in the day. The big item on the agenda: approving the second interim dividend for the current financial year. That announcement is expected to influence trading in the near term.

The stock was stuck between Rs 443 and Rs 449 on the NSE, with lighter-than-usual volumes, suggesting most traders preferred to sit tight before the dividend news. Vedanta has set August 27 as the date to decide who gets the payout.

On another front, the company’s plan to split its business into separate units — aluminium, oil and gas, power, and metals — hit a snag. The National Company Law Tribunal pushed back the hearing on the demerger to September 17. That means shareholders will have to wait longer to see how the restructuring unfolds.

Also hanging over the stock is a warning letter Vedanta received from SEBI earlier this month about some compliance matters. While the company replied to the regulator, it didn’t address a few government concerns, which has unsettled some investors.

Anil Agarwal’s team has been pushing hard to simplify Vedanta’s sprawling empire and unlock shareholder value. Even with these bumps, Vedanta is still a favorite for those chasing regular dividend income.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.