Motilal Oswal Financial Services remains bullish on Vedanta Aluminium Metal, citing favourable industry dynamics, company-specific structural drivers and a valuation gap with peers. The brokerage expects the company to enter a strong earnings inflection point.
The domestic brokerage reiterated its ‘Buy’ call on Vedanta Aluminium Metal shares with a target price of Rs 540 apiece, implying around 21% upside from the stock’s previous closing price of Rs 448 apiece. The stock gained over 1% to trade at nearly Rs 454 apiece on Wednesday morning.