Vedanta stock prices rise after the company announced an interim share

Vedanta stock price rose more than a percentage on the morning program on September 2, a day after the company announced a temporary share.

The mine manager announced the first interim allocation of Rs. The decision was confirmed at a meeting of the Board of Directors on September 1, the company said in a formal filing.

“Vedanta informed the Exchange that the Board of Directors at its meeting on September 01, 2021, announced an interim Dividend of $ 18.5 per share,” said the National Stock Exchange of India (NSE).

Earlier, in a regulatory document submitted prior to the Bombay Stock Exchange (BSE), Vedanta stated that the date for recording the shareholding of the shareholders’ right in the said dividend “will be fixed on Thursday, September 9, 2021”.

The stock was trading at Rs 303.20, up to Rs 5.25, or 1.76 percent. Affected high intraday of Rs 305.40 and low intraday of Rs 300.

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Last week, Moody Investors Service said it had upgraded Vedanta’s unsecured high notes to ‘B3’ from ‘Caa1’. It confirmed that the company that owns Vedanta Resources Ltd (VRL) B2 is the ratio of corporate families, Moody Investors Service said in a statement.

Moody’s also changed the perception of all values ​​to be ‘stable’ from ‘bad’. “Moody’s has upgraded to ‘B3’ from ‘Caa1’, its rating on VRL’s unsecured high notes and those issued by VRL’s wholly owned company, Vedanta Resources Finance II Plc and VRL-certified,” said Moody’s Deputy President and Module Credit Officer he said.

The price of Vedanta shares was under pressure after the Madras Supreme Court issued a notice to the company regarding the refurbishment of pollutants in the Tuticorin component.

Madras HC has issued a notice of rehabilitation of pollutants in the Tuticorin component after the inclusion of PIL in the company, CNBC-TV18 reported. PIL wants Vedanta to remove all impurities inside the Sterlite copper plant.

The company has been given five weeks to respond to the notice and the matter was filed in late September.

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