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The Economic Times

Rounak Khare

Zinc India to remain at the driver seat for Vedanta, says ICICI Securities but cuts target price to Rs 345

Vedanta ICICI Securities copper silver

Domestic brokerage firm ICICI Securities has cut the target price for Vedanta from Rs 369 to Rs 345, as it stated that its Zinc India business would remain a key growth driver for the Anil Agarwal-led conglomerate, maintaining a positive stance on zinc and silver prices. Vedanta derives 95% of its EBITDA from Zinc India, followed by Zinc International.

Vedanta had demerged into five listed entities, effective since May, which consist of Zinc India, Zinc International, Copper and Facor as major businesses.

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