Vedanta Power, Oil & Gas, and Iron shares rally up to 5%; Aluminium sheds 3%. Should you buy, sell or hold?

Three of Vedanta Group's four demerged entities — Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel — hit their 5% upper circuit limits, while Vedanta Aluminium Metal declined 3.3% to Rs 464. Citi initiated coverage on Vedanta Aluminium with a Buy rating and target of Rs 560, implying around 17% upside, citing aluminium price strength and cost focus. Brokerage fair values for the demerged entities vary widely: Vedanta Oil & Gas at Rs 42, Vedanta Power ranging from Rs 35 (CLSA) to Rs 60 (Kotak), and Vedanta Iron & Steel seen as carrying higher commodity and execution risks.