Vedanta up over 7.5%

Vedanta is currently quoting at its high-point of the day at Rs.256.80, up over 7.5%, less than Rs.6 away from its 10% UC of the day at Rs.262.45.

Apart from the cut in the windfall tax, the market has given a thumbs up to its second hefty interim dividend - Rs 19.5/share.

Earlier in April, it had announced its first interim dividend of Rs.31.5/share, taking the company’s total dividend payout for 2022-23 close to Rs 19,000 crore.

Record date is scheduled for 27th July.

Irrespective of whether it is more to fill the coffers of its promoter, Vedanta Resources, which is hurting from high debt amidst rising interest rate, the market is happy.