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Metal major Vedanta Limited on Monday declared a third interim dividend of Rs 11 per share for the financial year 2026. The company will incur a payout of Rs 4,300 crore.The company has fixed Saturday, March 28, as the record date for determining shareholders' eligibility to receive the dividend payout.The decision was taken in a board meeting held on Monday, and the company informed the exchanges during the market hours.Vedanta shares today fell 6% to hit the day' low of Rs 634.25 on the NSE amid a bloodbath on the D-Street. The heartbeat Nifty index fell 640 points or 2.8% intraday to hit the day's low of 22,471.25.Vedanta dividend historyThe Anil Agarwal-promoted company has declared 49 dividends since July 23, 2001, according to Trendlyne data. In the past 12 months, Vedanta has declared an equity dividend amounting to Rs 23 per share. At the current share price, Vedanta's dividend yield is 3.59%.Vedanta shares have delivered nearly 40% returns over a one-year period, outperforming the benchmarks Nifty and the BSE Sensex, whose returns are nearly -3% and -5%, respectively, in the same period. However, the shares have seen a 5% over the past month, largely on the back of the ongoing Iran-Israel war, which is now in its fourth week. Apart from unfavourable market sentiments, Monday's weakness can also be attributed to the order of the Supreme Court last week, which upheld the Bombay High Court’s ruling that the conglomerate is not entitled to procure high-speed diesel (HSD) at concessional rates against Form C.The high court had found that Vedanta used HSD for purposes other than mining, including resale to transporters and private parties. It noted that the company’s tax registration certificate restricted the use of fuel to running and maintenance of machinery for mining and processing iron ore for sale.Vedanta had obtained tax registration under the Goa Value Added Tax Act and the Central Sales Tax Act, which was renewed periodically. However, after the introduction of the compiled GST regime in 2017, the company migrated to the new system but continued to pay central sales tax on HSD purchases and retained its VAT registration.Also read: Down 18% since Iran war! Why gold is not acting as safe haven this timeTax authorities denied Form C to Vedanta, stating that the company had ceased to be a dealer under the Central Sales Tax Act and that its registration had become infructuous. Vedanta was trying to use Form C in order to avoid local value-added tax of 19% on diesel purchased from Karnataka by availing a concessional rate of 2%, the tax department argued.The court held that the registration certificate allowed concessional diesel only for running mining machinery, not for resale or supply to third-party transporters. The shares of the company plunged 5% to trade at Rs 637, the lowest level seen by the stock since February 1 this year.(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Indian benchmark bond yield rose to a 14-month high on Monday, possibly due to surge in Brent crude oil prices amid escalating conflict in the Middle east.The 10-year government bond yield was trading at 6.8173 per cent around 11 am on Monday, as compared to Friday's close of 6.737 per cent. The yield is highest since January 14, 2025, according to the data compiled from market participants."Bond yields are rising in response to crude oil prices climbing above USD 110 amid escalating tensions between the US-Israel and Iran. Foreign institutional investors who were net buyers of government bonds in January and February, have also turned net sellers in March," said Mataprasad Pandey, vice-president at Arete Capital (Choice Group).He added that higher crude prices are not only fuelling inflation concerns but also putting pressure on India's trade and current account balances, which is a big negative for the already depreciating rupee moving towards 94."These factors not only dampen expectations of a rate cut but raise the possibility of a rate hike if geopolitical tensions persist for long. As a result, increased supply relative to demand is weighing negatively on bond prices," he added.The conflict in the Middle East has entered into the fourth week, which led to a sharp surge in the Brent crude oil prices in the international market, which stoked a fear of higher inflationary pressure.Oil prices rose sharply after Iran said it would strike energy and water systems of its Gulf neighbours if US President Donald Trump followed through with a threat to hit Iran's electricity grid in 48 hours.Brent crude oil prices are trading at USD 112.66 per barrel. It has risen nearly 50 pet cent since the conflict started late in February.Higher crude oil prices have also put pressure on the rupee, which also dampened sentiments of traders and investors in the market.The rupee is trading at 93.9075 against the US dollar, which was up 20 paise since previous close.