Vedanta shares cross Rs 500 mark after gaining 5%. More gains ahead?

Vedanta Ltd shares surged over 5% on Thursday, crossing the Rs 500 mark, after the company announced that its board would consider a fourth interim dividend for FY25 on Tuesday, October 8.
The stock rose by 5.24% to hit Rs 504.75 during the afternoon session, up from the previous close of Rs 479.60 on the BSE. At the closing bell, shares of the company were up 4.64% at Rs 501.85.
The rally boosted Vedanta’s market capitalisation to Rs 1.86 lakh crore.
Vedanta has set October 16 as the record date to determine the shareholders eligible for this interim dividend, should it be declared.
Vedanta’s performance in 2024 has been impressive, with the stock climbing 95% so far this year and gaining 124.35% over the last 12 months. Over a five-year period, the stock has risen by 202%.
The stock is currently trading above key moving averages, including the 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day, indicating a sustained bullish trend.
Earlier this year, Vedanta declared its third interim dividend of Rs 20 per share for FY25, with a record date of September 10. Prior to that, the company announced interim dividends of Rs 4 and Rs 11 per share. So far, the total dividend for FY25 stands at Rs 35 per share.
As of June 30, promoters held a 56.38% stake in the company. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, operates across various sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium, and power, with operations in India, South Africa, and Namibia.
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