Buy a dividend stock: Vedanta is one of the firms that offered outstanding returns to its owners in 2024, along with a high dividend yield. Vedanta produced three dividends in 2024 (₹11, ₹4, and ₹20 per share), according to data on the BSE website.
This resulted in an annual dividend yield of more than 13.50%. In comparison to numerous assurances and options with assured returns, such as bank fixed deposits (FDs), the Public Provident Fund (PPF), the Sukanya Samriddhi Yojana (SSY), etc., this Vedanta dividend yield in 2024 is greater.
Bulls in the Indian stock market have taken notice of the technical breakout that Vedanta’s share price just experienced.
According to stock market experts, Vedanta shares have delivered resilience despite global challenges to the company’s business. The metal company has delivered positive quarterly numbers and recently gave a fresh technical breakout on the chart pattern.
They said that Vedanta shares look positive on the chart pattern and may soon touch ₹575 apiece.
Reasons behind Vedanta shares “Vedanta Limited operates across sectors like zinc, oil and gas, aluminum, and iron ore,” explained Ravi Singh, SVP of Retail Research at Religare Broking, in response to questions about why Vedanta shares are surging. Notwithstanding global concerns, the company has shown to be resilient and has produced significant earnings.
Profitability and operational effectiveness are still strong due to the favorable prices of commodities. Vedanta’s market share is anticipated to approach 550 levels shortly due to its strong position and increased demand in the metals and energy industries.