Vedanta Stock Price: Vedanta, a powerful metals firm, is experiencing a surge in its stock price today. The stock climbed nearly 1% in today’s trading to hit Rs 401, which is a new one-year high for the firm. Vedanta has offered investors double-digit gains in the last month, while most equities have dropped due to the market’s downturn. The firm has just declared that it will pay an interim dividend, which has boosted investor confidence in the stock. Nivea has been urged to invest in the company by global brokerage House City, which has set a goal of Rs 435 over the next 12 months.
Vedanta’s stock has not been influenced by the market downturn in the recent month. During this time, investors have received gains of more than 12% on this stock. At the same time, the stock has returned almost 10% since January 1. In just one year, the company’s stock has proven to be a multibagger for investors. Vedanta has a 1-year return of roughly 76 percent.
Vedanta’s board of directors has declared an interim dividend of Rs 13 per share. The interim dividend on each share of the face value of Re 1 will be 1300 percent for the financial year 2021-22, according to information provided to the stock exchange. This dividend will cost the corporation around Rs 4832 crore to pay. The dividend record date has been set for March 10, which implies that any shareholder of the firm is eligible to collect the dividend till that day.
Citi, a global brokerage firm, has advised Nivea on Vedanta’s shares, with a target price of Rs 435. The brokerage firm claims that the company’s dividend policy is superior. In such a case, another dividend has been declared, as predicted. The brokerage firm claims that the company’s business is doing well and that the long-term growth prospects are promising. The stock will be in a bullish trend.