The next day, July 19, the business declared a sizable second interim dividend, and shares of Vedanta spiked in early trading. The government's choice to reduce the extra excise charge levied on the production of crude oil also helped the stock.

Vedanta declared a second interim dividend of Rs 19.5 per share, for a total dividend payment of Rs 7,250 crore.

The entire dividend payment made by the corporation year 2022–2023 is now very around Rs 19,000 crore.

The significant dividend payment is crucial for Vedanta's promoter Vedanta Resources, which is struggling with a heavy debt load at a time when interest rates are rising dramatically worldwide.

In addition to the second dividend, the government's declaration that the fixed special excise duty on crude oil output will be reduced from Rs 23,250 per tonne to Rs 17,000 per tonne starting July 20 helped the stock.

The government shocked the market earlier this month with a purported tax on windfall gains generated by crude oil producers like Vedanta as a result of nearly eight-year highs in the price of petroleum throughout the world.

From the eight-year high of $125 per barrel reached in June and the March highs of $137, crude prices have dropped by more than 15% and over 22%, respectively.

Although oil production has not yet had a significant impact on the business's profits, the corporation has hailed new Rajasthani finds as a game-changer for India's energy requirements.

The next day, July 19, the business declared a sizable second interim dividend, and shares of Vedanta spiked in early trading. The government's choice to reduce the extra excise charge levied on the production of crude oil also helped the stock.

On the National Stock Exchange, Vedanta shares were up 5.3 percent at Rs 251.4 at 10:35 a.m.