4.92% Dividend Yield: Vedanta Issues Big Update On NCDs, Buy, Sell Or Hold?

Vedanta Ltd will hold a meeting on June 20, 2024 to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis as part of its routine financing / refinancing that is undertaken in ordinary course of business. Last trading price of Vedanta share on BSE is Rs 447.10 per share with intraday rally of 1.65%. Vedanta shares offered attractive returns of 72% in last 3-months and declined 2.90% in last 1-week. Several brokerages appear upbeat on Vedanta and recommended buy call. Vedanta has a market capitalisation of Rs 1,66,195.86 crore.

When it comes to shareholding pattern in Vedanta, the number of FII/FPI investors increased from 628 to 674 in March 2024 quarter. Mutual Funds have increased holdings from 1.42% to 3.55% in March 2024 quarter. Institutional Investors have increased holdings from 19.00% to 21.99% in March 2024 quarter. Check key details below:

Vedanta To Consider Issuance of NCDs: As per the BSE filing released today, "Pursuant to Regulation 29(1) and (2) along with Regulation 50(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, we would like to inform you that the Company proposes to hold a meeting of its duly constituted Committee of Directors on Thursday, June 20, 2024 to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis as part of its routine financing / refinancing that is undertaken in ordinary course of business."

Vedanta Limited Share Performance: The 52-week high price of Vedanta Limited share on BSE is Rs 506.85 apiece (as on 22/05/2024) and 52-week low price is Rs 207.85 per share (as on 28/09/2023). Vedanta shares slipped 2.90% in last 1-week, gained 76% in last 6-months, zoomed 59% in last 1-year, and offered return of 163% in last 5-years.

Vedanta Dividend: As per the BSE filing of the company dated May 16, 2024, "First Interim Dividend of Rs 11/- per equity share on face value of Re 1/- per equity share for the Financial Year 2024-25 amounting to Rs 4,089 Crores." The company fixed May 25, 2024 as the record date for dividend.

Vedanta Dividend History: Vedanta announced 42 dividends since July 23, 2001. In last 1-year, Vedanta announced an equity dividend amounting to Rs 22.00 per share. At the current share price of Rs 447.10 per share, Vedanta offers a dividend yield of 4.92%.

Vedanta Bonus Share History: Vedanta recommended 2 bonus issues since February 16, 2005. The last bonus issue that Vedanta declared was in the ratio of 1:1 with ex-date fixed as August 8, 2008.

Vedanta Stock Split History: Vedanta split the face value of its share once since August 8, 2008. Vedanta last split the face value of its shares from Rs 10 to Re 1 in 2008. Vedanta share traded ex-split as on August 8, 2008.

Should You Buy Vedanta Shares? Brokerage firm Nuvama recommended buy call for Vedanta share with target price of Rs 542 per share. CLSA in its recent report said there is scope for further re-rating for Vedanta shares amid the company's plan to expand its alumina refinery capacity and slash costs. "Execution of these profitability improvement initiatives will be key to a re-rating," said analysts at CLSA.

StoxBox recommended buy call for Vedanta shares with target price of Rs 508 per share. According to the analyst, "the stock displays a high relative strength compared to the 50 index, with strong buyers' demand and sectorial strength, which is a positive sign. We recommend buying Vedanta for the target of Rs 508 with a protective stop at Rs 421."

Investec assigned hold call and upgraded the target price to Rs 473 from Rs 270 per share.

Anand Rathi said, "Support will be at Rs 438 and resistance at Rs 452 A decisive close above the Rs 452 level may trigger a further upside to 470 . The expected trading range will be between Rs 435 and Rs 485 for a month."

Vedanta Financials: Vedanta declared 27% fall in Q4 profit ended March 31, 2024 amid soaring finance expenses and sluggish metals prices such as zinc, copper, and aluminium. Vedanta's net profit fell to Rs 1369 crore for Q4 ended March 31, 2024 as against Rs 1881 crore net profit declared in the corresponding quarter of last year. Vedanta declared a dip of 6% in its revenue from operations to Rs 34,937 crore for March quarter and remained slightly changed, sequentially.

Disclaimer: The stock has been picked from the brokerage report of CLSA, StoxBox, Anand Rathi, and Investec. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.