Shares of Vedanta fell nearly a percent at the open on March 13, a day after SEBI asked the company to pay Cairn UK Holdings Limited (CUHL) Rs 77.62 crore plus a simple interest of 18 percent per annum for delay in payment of dividend.
At 9:20 am, the stock was trading at Rs 268.15.
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In a post market hours filing, Vedanta Limited said that the regulator has also asked the company's chairman and managing director (CMD) Navin Agarwal, whole-time director Tarun Jain, whole-time director and chief executive officer (CEO) Thomas Albanese and whole-time director and chief financial officer (CFO) GR Arun Kumar to restrain from accessing the securities market for two months and non-executive director Priya Agarwal and independent directors K Venkataramanan, Lalita D Gupte, Aman Mehta, Ravi Kant and Edward T Story from accessing the market for a month.
The company added that it is taking appropriate legal steps in the manner and does not foresee any financial or material impact.
Vedanta Ltd stock has fallen over 3 percent this year. In Q3FY24, Vedanta India posted an 18 percent year-on-year fall in its net profit at Rs 2,013 crore .
Also read: SEBI asks Vedanta India to pay Cairn UK Holdings Rs 77.62 cr for late dividend payout
The company had reported a profit of Rs 2,464 crore in the same quarter of the previous year and a loss of Rs 1,783 crore in the previous fiscal. Revenue rose 3.8 percent to Rs 34,968 crore.
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