In the last 1 month, when most of the stocks weakened during the fall in the market, Vedanta has given double digit returns to the investors.
Today the shares of Vedanta, a strong metal sector company, are seeing a rise. In today’s trade, the stock gained about 1 percent to reach a price of Rs 401, which is a new high of 1 year for the stock. In the last 1 month, when most of the stocks weakened during the fall in the market, Vedanta has given double digit returns to the investors. At present, the company has announced to give interim dividend, due to which the sentiment of investors regarding the stock is strong today. Global brokerage House City has advised Nivea in the stock and has set a target of Rs 435 on the next.
The stock also strengthened in the fall of the market
The market decline has not affected the shares of Vedanta during the last 1 month. This stock has given more than 12 percent returns to the investors during this period. At the same time, since January 1, the stock has given a return of about 10 percent. The company’s stock has proved to be a multibagger for investors in 1 year. The 1-year return in Vedanta has been around 76 percent.
Interim dividend announcement
The board of Vedanta company has declared an interim dividend of Rs 13 per share. According to the information given to the stock exchange, for the financial year 2021-22, the interim dividend on each share of face value of Re 1 will be 1300 percent. The company will spend about Rs 4832 crore for the payment of this dividend. The record date for dividend has been fixed as March 10, which means that till this date every shareholder of the company will be entitled to receive the dividend.
Should I invest money in shares?
Global brokerage house Citi has given Nivea advice in the stock of Vedanta and has set a target price of Rs 435. The brokerage house says that the company’s policy of paying dividend is better. In such a situation, as expected, another dividend has been announced. The brokerage house says that the company’s business is good and the long-term growth outlook looks good. Bullish trend will be seen in the stock.
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