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ICICI Securities Report
ICICI Securities has initiated coverage on Vedanta Aluminium Ltd., with a 'Buy' rating and a target price of Rs 520, implying an upside potential of nearly 19% from the current market price of Rs 438.
The brokerage believes the company is entering a multi-year earnings upcycle supported by favourable aluminium industry dynamics, rising volumes, backward integration benefits, and a growing share of value-added products.
The brokerage said Vedanta Aluminium is well positioned to benefit from a combination of strong global aluminium prices and company-specific improvements. According to ICICI Securities, structural demand growth, constrained global supply, Chinese production caps and delays in new smelter projects are expected to support aluminium prices over the medium term.
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