Vedanta Aluminium shares in focus as CLSA initiates Outperform call, sees 18% upside potential. Here's why

CLSA initiated coverage on Vedanta Aluminium with an Outperform rating and a target price of Rs 540, implying around 18% upside, citing a higher for longer aluminium cycle, backward integration improving the global cost curve, and strong FCF generation supporting deleveraging and dividends. The stock debuted at Rs 522 on NSE before slipping about 13% to close at Rs 456.61, while ICRA also upgraded the company's long-term rating with a stable outlook following clarity on the Vedanta demerger scheme.