ICICI Securities gives Vedanta Ltd a 'Buy' rating with a target price of Rs 600 and anticipates 18% upside due to EBITDA growth and demerger.

ICICI Securities has issued a 'Buy' rating for Vedanta Ltd, projecting a target price of Rs 600, indicating an 18% upside. The firm anticipates a 25% EBITDA CAGR through FY26E, driven by growth in its aluminium and Zinc-India divisions and cost reductions. The upcoming demerger is expected to enhance growth prospects. Vedanta's recent quarterly sales rose by 1.68%, with a net profit increase of 36.59% year-on-year.

October 07, 2024
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