Latest news with #LODR
Mint
5 days ago
- Business
- Mint
Vedanta declares first interim dividend of ₹7 per share for FY26. Check record date and other details
Mining and metals conglomerate Vedanta on Wednesday announced the first interim dividend of ₹ 7 per equity share for the financial year 2025–26 (FY26). The decision was taken at the Board of Directors' meeting held earlier in the day and marks a significant shareholder payout of approximately ₹ 2,737 crore. In a regulatory filing to the stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, Vedanta confirmed that the interim dividend is based on a face value of ₹ 1 per equity share. The company had earlier notified that Tuesday, June 24, 2025, would be the record date to determine the eligibility of shareholders for the interim dividend. The dividend payout will be made within the timelines prescribed by law. 'The Board of Directors of Vedanta Limited, at its meeting held on June 18, 2025, has considered and approved the First Interim Dividend of ₹ 7 per share, amounting to around ₹ 2,737 crore,' the company said in its stock exchange communication. Vedanta has a long-standing reputation for delivering consistent and high dividends to its shareholders, making it one of the preferred dividend-paying stocks on Dalal Street. The latest dividend further reinforces the company's commitment to rewarding its investors even amid ongoing capital expenditure plans and demerger-related developments. Vedanta Ltd today also confirmed selling a 1.6 per cent stake in Hindustan Zinc Ltd (HZL) via block deals to institutional investors, raising ₹ 3,028 crore. The move is part of Vedanta's broader deleveraging strategy aimed at strengthening its balance sheet. Earlier in the day, about 7.2 crore shares, or 1.71 per cent equity, changed hands at ₹ 460.5 apiece, totalling ₹ 3,323 crore, according to CNBC-TV18. Vedanta later clarified that it had sold 66.7 million shares through an accelerated bookbuild process. In addition to the stake sale, Vedanta is expected to receive ₹ 2,679.54 crore from Hindustan Zinc's recently declared ₹ 10 per share dividend. The twin cash inflows will support Vedanta's financial goals amid ongoing corporate restructuring and focus on capital discipline.
Mint
5 days ago
- Business
- Mint
Vedanta declares first interim dividend of ₹7 per share for FY26
Mining and metals conglomerate Vedanta on Wednesday announced the first interim dividend of ₹ 7 per equity share for the financial year 2025–26. The decision was taken at the Board of Directors' meeting held earlier in the day and marks a significant shareholder payout of approximately ₹ 2,737 crore. In a regulatory filing to the stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, Vedanta confirmed that the interim dividend is based on a face value of ₹ 1 per equity share. The company had earlier notified that Tuesday, June 24, 2025, would be the record date to determine the eligibility of shareholders for the interim dividend. The dividend payout will be made within the timelines prescribed by law. 'The Board of Directors of Vedanta Limited, at its meeting held on June 18, 2025, has considered and approved the First Interim Dividend of ₹ 7 per share, amounting to around ₹ 2,737 crore,' the company said in its stock exchange communication. The board meeting commenced at 12:30 p.m. IST and concluded at 1:00 p.m. IST. Vedanta has a long-standing reputation for delivering consistent and high dividends to its shareholders, making it one of the preferred dividend-paying stocks on Dalal Street. The latest dividend further reinforces the company's commitment to rewarding its investors even amid ongoing capital expenditure plans and demerger-related developments. Vedanta Ltd on June 18 confirmed selling a 1.6 percent stake in Hindustan Zinc Ltd (HZL) via block deals to institutional investors, raising ₹ 3,028 crore. The move is part of Vedanta's broader deleveraging strategy aimed at strengthening its balance sheet. Earlier in the day, about 7.2 crore shares, or 1.71 percent equity, changed hands at ₹ 460.5 apiece, totalling ₹ 3,323 crore, according to CNBC-TV18. Vedanta later clarified that it had sold 66.7 million shares through an accelerated bookbuild process. In addition to the stake sale, Vedanta is expected to receive ₹ 2,679.54 crore from Hindustan Zinc's recently declared ₹ 10 per share dividend. The twin cash inflows will support Vedanta's financial goals amid ongoing corporate restructuring and focus on capital discipline. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
13-06-2025
- Automotive
- Business Upturn
Eicher Motors: Simon Warburton retires as Chief Program Manager today
By Aditya Bhagchandani Published on June 13, 2025, 16:26 IST Eicher Motors has officially announced the retirement of its Chief Program Manager, Mr. Simon Warburton, effective from the close of business hours on June 13, 2025. The announcement was made via an exchange filing under Regulation 30 of SEBI (LODR) Regulations, 2015. Simon Warburton, who has served the company for a decade, expressed gratitude for being part of the company's growth during his tenure. In a letter addressed to the management, he said, 'Whilst I remain a Royal Enfield rider and enthusiast, I have reached the stage in my life when it is right for me to take my leave from the workplace and devote my time to enjoying the world around us and spending more time with my family.' Warburton's leadership played a key role in product development at Royal Enfield, Eicher's flagship motorcycle brand. His departure marks the end of a significant chapter in the company's journey. No successor has been announced at this point, and the company has stated that it remains committed to its strategic growth roadmap. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
12-06-2025
- Business
- Mint
Reliance Industries offloads 3.5 crore shares in Asian Paints worth over ₹7,700 crore
Reliance Industries Limited (RIL) has pared its holding in Asian Paints by offloading 3.5 crore shares, marking a significant exit from one of India's leading blue-chip companies. The sale, conducted through its wholly owned subsidiary Siddhant Commercials Limited, fetched ₹ 2,201 per share—translating into a total deal size of ₹ 7,703.5 crore. The transaction, carried out via block deals in the pre-market session on Thursday, saw approximately 3.64 percent of Asian Paints' equity change hands. RIL still retains a minority stake of 87 lakh shares in the paint maker after this sale, which falls under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR). Reliance had acquired its stake in Asian Paints back in January 2008, investing ₹ 500 crore during the global financial crisis. That strategic bet paid off handsomely, as the shareholding appreciated significantly over the years, although the stock has underperformed in recent times. Asian Paints' shares have declined by 17 percent over the past three years, making it one of the weakest performers among Nifty blue chips. Analysts attribute the erosion to intensified competition, particularly from Aditya Birla Group's new entrant, Birla Opus Paints. According to Elara Securities, Asian Paints' market share has fallen from 59 percent to 52 percent in FY25—a significant loss in a highly competitive market. This underperformance is compounded by revenue stagnation, with the company reporting subdued growth over four consecutive quarters. Despite falling raw material costs, gross margins have compressed due to rising rebates and aggressive pricing by competitors. In a recent investor call, CEO Amit Syngle acknowledged the pressure, stating that the company would need to take 'calibrated action' to defend its leadership. The block trade has reshuffled the shareholding dynamics of Asian Paints. As of March 2025, Siddhant Commercials held a 4.9 percent stake, much of which has now been liquidated. Domestic mutual funds continue to maintain a significant presence, collectively holding a 5.67 percent stake. ICICI Prudential and SBI Mutual Fund hold 1.24 percent and 1.51 percent, respectively. Meanwhile, the Life Insurance Corporation of India (LIC) remains the largest public shareholder in Asian Paints with an 8.29 percent stake. Retail investors too hold a meaningful share—11.84 percent—spread across 11.73 crore small shareholders with holdings under ₹ 2 lakh. Brokerages have turned cautious. Nuvama Institutional Equities recently downgraded Asian Paints, cutting its FY26–FY27 earnings estimates by 6–8 percent. The brokerage sees only a 7.2 percent compound annual growth rate in earnings per share through FY28. It has trimmed the stock's target price to ₹ 2,200—just around the price at which Reliance exited—and assigned a valuation of 45x forward earnings, nearly 20 percent lower than the 10-year average.
Mint
12-06-2025
- Business
- Mint
Reliance Industries offloads 3.5 crore shares in Asian Paints worth over ₹7,700 crore
Reliance Industries Limited (RIL) has pared its holding in Asian Paints by offloading 3.5 crore shares, marking a significant exit from one of India's leading blue-chip companies. The sale, conducted through its wholly owned subsidiary Siddhant Commercials Limited, fetched ₹ 2,201 per share—translating into a total deal size of ₹ 7,703.5 crore. The transaction, carried out via block deals in the pre-market session on Thursday, saw approximately 3.64 percent of Asian Paints' equity change hands. RIL still retains a minority stake of 87 lakh shares in the paint maker after this sale, which falls under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR). Reliance had acquired its stake in Asian Paints back in January 2008, investing ₹ 500 crore during the global financial crisis. That strategic bet paid off handsomely, as the shareholding appreciated significantly over the years, although the stock has underperformed in recent times. Asian Paints' shares have declined by 17 percent over the past three years, making it one of the weakest performers among Nifty blue chips. Analysts attribute the erosion to intensified competition, particularly from Aditya Birla Group's new entrant, Birla Opus Paints. According to Elara Securities, Asian Paints' market share has fallen from 59 percent to 52 percent in FY25—a significant loss in a highly competitive market. This underperformance is compounded by revenue stagnation, with the company reporting subdued growth over four consecutive quarters. Despite falling raw material costs, gross margins have compressed due to rising rebates and aggressive pricing by competitors. In a recent investor call, CEO Amit Syngle acknowledged the pressure, stating that the company would need to take 'calibrated action' to defend its leadership. The block trade has reshuffled the shareholding dynamics of Asian Paints. As of March 2025, Siddhant Commercials held a 4.9 percent stake, much of which has now been liquidated. Domestic mutual funds continue to maintain a significant presence, collectively holding a 5.67 percent stake. ICICI Prudential and SBI Mutual Fund hold 1.24 percent and 1.51 percent, respectively. Meanwhile, the Life Insurance Corporation of India (LIC) remains the largest public shareholder in Asian Paints with an 8.29 percent stake. Retail investors too hold a meaningful share—11.84 percent—spread across 11.73 crore small shareholders with holdings under ₹ 2 lakh. Brokerages have turned cautious. Nuvama Institutional Equities recently downgraded Asian Paints, cutting its FY26–FY27 earnings estimates by 6–8 percent. The brokerage sees only a 7.2 percent compound annual growth rate in earnings per share through FY28. It has trimmed the stock's target price to ₹ 2,200—just around the price at which Reliance exited—and assigned a valuation of 45x forward earnings, nearly 20 percent lower than the 10-year average. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
