Please do not buy this stock just because of dividend yield. I did the same mistake. Please do your own research on the integrity of the promoter. The dividend are so high not because the owners wants to give away to shareholders. He is selling everything in the company so that he can settle his own dues through dividends. The promoters holding company is sunk in debt .
He tried his level best to dump the zinc companies to Hindustan zinc for an asking price of 2.98 billion. Why? Hindustan zinc is also owned (majority) by him and there was cash sitting on that company. So he thought why not sell it to his own company, get cash and give out dividend so that his holding company - Vedanta Resources can settle the dues. But Govt threw a spanner in his scheme. Govt owns approx 30% in Hindustan Zinc and they stopped the transaction. Even a rat knew why he was trying to sell the zinc companies to HZ. Not because of his good intention of growing HZ, but to take out the cash in HZ.
Karma hits back - the basic structure of his business is so convuluted that Vedanta owns majority in HZ. So whatever dividends HZ gives first comes to Vedanta and then he can take it. Fundamentally vedanta is a good company, so when the market price fell to 80 during the corona time, he thought of delisting Vedanta. He could then swallow the entire cash of Vedanta and then whatever dividends given by HZ will be his in full. He did not want his minority shareholders to be part of his success. However, LIC offered to sell at 320 and delisting failed.
When media calls him a Billionaire, I feel his networth is lower than a road side pav bajji seller as he is full of debt and shit.
Stay away - not a company for retail investors. This is not a dividend stock king it is like a drunk, coming home, selling jewellery, utensils and whatever he can get hands on so that he can drink - not a king but a chapparasi.
Disclaimer: Once bitten twice shy - I am biased negatively against this group as I have burnt heavily during the delisting time. You could take the above with a kilo of salt and do your own research.