Multiple outlets report that ICICI Securities initiates coverage of Vedanta Aluminium Metal (VAML) with a “Buy” rating and a target price of Rs 520 per share. The brokerage argues the company is entering a multi-year earnings upcycle, supported by favourable industry dynamics for aluminium. It expects earnings growth to be driven by higher aluminium prices and volume expansion, along with benefits from backward integration that can improve cost efficiency.
Economic Times and NDTV both cite expectations of rising contributions from value-added aluminium products as part of the thesis. They also point to improved cash generation and debt reduction as key near- to medium-term factors. In addition, the broker links its outlook to Vedanta Aluminium’s long-term expansion plans, suggesting that ongoing capacity growth can support future performance.
The outlets note that the stated target implies upside of more than 19% from the reference share price used by ICICI Securities, though the exact calculation depends on that reference. The reports present the view as an analyst initiation rather than a company announcement.
