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Vedanta Shares: ICICI Securities Retains Positive Outlook But Watchful Of JAL —Maintains 'Buy'
JAL bidding would be a near-term overhang on Vedanta, as it may delay the deleverage process apart from impacting overall Ebitda, adds ICICI Securities.
03 Nov 2025, 04:09 PM IST 
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Despite huge capex plans, the brokerage expects debt to remain in check, as Vedanta is expected to generate good cash flows.
(Source: Vijay Sartape /NDTV Profit).
Vedanta is a prime beneficiary of the surge in commodity prices. Aluminium division is expected to drive the majority of earnings aided by better volumes, lower costs and potentially better LME (aluminium demand-supply likely to be favourable). Power segment and zinc shall play a supporting role.
