Shares of Vedanta gained on Friday after the company announced that its board will meet on March 28 to consider the fifth interim dividend on equity shares for the financial year 2022-23.

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The record date for the purpose of determining the entitlement of the equity shareholders for the dividend has been fixed as April 7, 2023, Vedanta said in a filing to the stock exchanges on Thursday.

As per the insider trading rules, trading window will be closed for dealing in shares of the company for all designated persons from March 24 to March 30.

On Thursday, Vedanta shares plunged nearly five percent after Bloomberg reported that its chairman Anil Agarwal is considering options including selling a minority stake in the company.

Vedanta’s shares have slumped about 32 percent in the last 12 months.

So far, the company has paid dividends worth Rs 81 during the current financial year. If the entire dividend from Hindustan Zinc is passed on to shareholders, the company may declare a dividend of Rs 19.2 per share.

As per the report, Agarwal is evaluating the possibility of divesting a less than 5 percent stake in the company. However, when contacted by CNBC-TV18 about the news, Agarwal denied it saying, "Deny any intention to sell any stake in Vedanta."

The stake-sale is aimed at shrinking the huge debt load of the company's commodities business, according to the report.

Shares of Vedanta are trading 0.4 percent higher at Rs 272.40.

(Edited by : Rukmani Krishna)