Vedanta Aluminium Metal shares surged nearly 2% after CLSA initiated coverage with an 'Outperform' rating and a Rs 540 target price, citing a strong aluminium cycle and operational strengths. The brokerage anticipates backward integration will significantly improve the company's cost position. Robust demand from electrification and constrained supply are expected to support higher aluminium prices for an extended period, bolstering Vedanta Aluminium's financial outlook and potential for deleveraging and dividends.
Vedanta Aluminium shares rose nearly 2% after CLSA initiated an 'Outperform' rating, setting a Rs 540 target price. CLSA highlighted a strong aluminium cycle and operational strengths, expecting backward integration to boost cost efficiency. Robust demand from electrification…
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