Vedanta shares rose on Thursday after the oil-to-metals conglomerate's board gave nod to the first interim dividend for the current financial year.

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The Vedanta stock jumped as much as 2.50 percent to Rs 305.40 apiece on BSE before giving up more than half of those gains.

At 9:30 am, Vedanta shares were left with a gain of 1.02 percent at Rs 301 apiece on the bourse, but managed to outperform the benchmark Sensex index, which was up 0.25 percent.

Minutes after the market hours on Wednesday, Vedanta said its board in a meeting earlier in the day approved the interim dividend of Rs 18.50 per equity share for FY22.

The dividend would amount to Rs 6,877 crore, Vedanta said.

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The Vedanta board also approved September 9, 2021 as the record date for the payment of the dividend.

The interim dividend will be paid within stipulated timelines as prescribed under law, it said in a regulatory filing.

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Vedanta, a subsidiary of Vedanta Resources, is one of the world's top diversified natural resource companies with business operations in India, South Africa, Namibia and Australia.

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First Published:Sept 2, 2021 9:59 AM IST