CLSA has reiterated its ‘Outperform’ rating on Vedanta, setting a target price of ₹520 per share, indicating a potential 14% upside from the current market price (CMP) of ₹456. The brokerage notes that the cost of production for aluminium remained largely flat quarter-on-quarter, while it decreased for zinc. Vedanta anticipates a stronger performance in the second half of the fiscal year compared to the first. However, a rise in alumina prices could impact earnings. On a positive note, leverage issues at the parent company appear to be largely resolved.
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