Vedanta Aluminium share price gains as brokerages remain bullish; CLSA sees 18% upside

Vedanta Aluminium Metal shares rallied over 2%, touching Rs 469 on the BSE, after CLSA initiated coverage with an Outperform rating and a target price of Rs 540, implying 18 percent upside. Citi had earlier assigned a Buy rating with a target of Rs 560, citing expectations of a net cash position by FY28 and aluminium prices rising to $4,000 per tonne from the current $3,400 amid a supply deficit. The stock was listed on June 15 following a demerger from parent Vedanta Ltd, and brokerages cite backward integration, volume growth, and strong free cash flow as key drivers.