Vedanta jumped 4.69% to Rs 106 after the company said its board will consider first interim dividend on 24 October 2020.
The record date for the proposed dividend, if declared, is fixed on 31 October 2020.
On 20 October 2020, Hindustan Zinc, a subsidiary of Vedanta, informed that its board has approved an interim dividend of Rs 21.30 per equity share for the FY2020-21. As of 30 September 2020, Vedanta held 64.92% stake while the Government of India held 29.54% stake in Hindustan Zinc.
On a consolidated basis, Vedanta's net profit declined 21.7% to Rs 1,522 crore on 25.9% decrease in net sales to Rs 15,687 crore in Q1 June 2020 over Q1 June 2019.
Vedanta, a subsidiary of VRL, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia and Australia.
Earlier this month, Vedanta's voluntary delisting bid failed after it could not get the minimum number of bids required from its minority shareholders to take it private. The promoters sought to buy out 169.73 crore shares or 47.67% stake held by the public to delist the firm.
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