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    Vedanta Steals The Spotlight Today On The Indian Stock Market

    Vedanta was the star of the Indian Stock market today as the shares of the company rose sharply in the morning trade on July 20, a day after the company announced a hefty second interim dividend. The government’s decision to slash additional excise duty imposed on crude oil production also gave a boost to the stock.

    Vedanta announced a Rs 19.5 a share second interim dividend that will result in a dividend payout of Rs 7,250 crore. The company’s total dividend payout for 2022-23 is now close to Rs 19,000 crore.

    Vedanta continues to payout great dividends

    The large dividend payout is important for Vedanta’s promoter Vedanta Resources that is hurting from a high debt burden at a time when global interest rates have risen sharply.

    Vedanta’s promoter had aggressively taken on debt from investors in the run-up to its now failed delisting offer in 2020.

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