Vedanta Shares Decline by Over 5% Ahead of Dividend Announcement
Vedanta Share Price Declines Ahead of Board Meeting
On March 23, Vedanta's share price declined ahead of its board meeting to discuss a third interim dividend for shareholders. The record date for this dividend distribution has been set for Friday, March 27.
Dividend History
The company's board has previously distributed dividends amounting to ₹23 per share to its shareholders for the financial year 2026, consisting of a first interim payment of ₹7 per share on June 18, 2025, resulting in a total disbursement of over ₹2,400 crore. The second interim payment, announced in August, was for ₹16 per share, leading to an expenditure of over ₹6,200 crore.
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Corporate News
Vedanta Resources, the promoter of the company, holds a 56.38% ownership stake in the Indian listed company. The Vedanta Group has filed an appeal with the National Company Law Appellate Tribunal (NCLAT), contesting the NCLT's endorsement of Adani Group's offer to purchase Jaiprakash Associates Ltd for ₹14,535 crore.
Stock Performance
Vedanta's share price opened at ₹660 apiece on the BSE, touching an intraday high of ₹661.55 and an intraday low of ₹637 per share. Analysts have predicted selling pressure in the short term due to the stock breaching its 50 DEMA support. Key resistance levels are observed between ₹670-₹690, while immediate support is anticipated in the ₹620-₹610 range. A breach below this zone may invite further weakness.
Investor Takeaway
Investors should be cautious of Vedanta's share price decline ahead of its dividend announcement.
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