Motilal Oswal Financial Services initiated coverage on the shares of Vedanta Aluminum with a ‘Buy’ rating and a target price of Rs 540 per share, implying an upside potential of around 22% from the stock’s previous closing price, as the domestic brokerage forecast strong earnings growth and cash flow generation over the medium term.
The domestic brokerage in its note called the company India's largest pure-play primary aluminum company and the third-largest aluminum producer globally, excluding China. It said the company has emerged as one of the most compelling structural stories in the global aluminum space, combining industry-leading scale, extensive backward integration, and a multi-year earnings growth trajectory.
