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Vedanta stock price target: Nuvama said Vedanta’s debt peaked out in FY24. It revised upward its target price on the scrip to Rs 542 from Rs 394 earlier. The brokerage retained its ‘Buy' on the stock.
Vedanta shares climbed 5.63 per cent to hit high of Rs 357.25. At this price, CLSA's target price still suggests a 9.16 per cent potential upside ahead.
The Anil Agarwal-led Vedanta is well-placed to benefit from commodity upcycle given its diversified exposure, CLSA said. Efforts to increase capacity and profitability across segments auger well, it said.
In its stock review note, CLSA said that the company was focused on operational uptick and deleveraging. It said that the company s operational improvement will be key to its re-rating. ....
Vedanta share price today: Nuvama said Vedanta may complete its expansion in aluminium and zinc within FY25, and, thus, generate additional cash flows.