Vedanta Aluminium wipes off Rs 25,000 cr worth investor wealth in under a month. Time to buy?

Vedanta Aluminium has wiped off about Rs 25,000 crore of investor wealth in under a month, coinciding with a correction in global aluminium prices after the Iran-US peace deal. Despite the sharp fall, brokerage Emkay initiated coverage with a Buy rating and a target price of Rs 550, implying about 15% upside, citing a structurally tight global aluminium market expected to remain in deficit through CY28. InCred Equities, however, cautioned that the bullish view on aluminium as a primary metal is built on the wrong framework, noting that nearly 1.5 billion tonnes of aluminium remains available above ground with 80% still in the usable metal pool.