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Home » Vedanta Steals The Spotlight Today On The Indian Stock Market

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Vedanta Steals The Spotlight Today On The Indian Stock Market

TheNewsFacts
Last updated: July 20, 2022 4:48 pm
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Vedanta Steals The Spotlight Today On The Indian Stock Market
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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.

TAGGED: Vedanta, Vedanta Share Price
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