Vedanta Shares Soar 44% in 3 Months: Will Rally Continue? Brokerages Weigh In

• Vedanta Limited shares have surged by approximately 44% in the last three months, driven by a global and domestic increase in metal prices.
• Kotak Institutional Equities maintains a 'Buy' rating, raising the target price to Rs 780, citing Vedanta's strong position to capitalize on base and precious metal rallies.
• Approximately 85% of Vedanta's estimated FY2027 EBITDA is expected from aluminum (50%), zinc (20%), and silver (15%), all trading at high levels.
• Capacity additions in aluminum, zinc, and power segments during FY2027-28 are anticipated to be significant positive triggers for the share price.
• Nuvama sets a target price of Rs 806, projecting a 20% compounded annual growth rate in EBITDA between FY2025 and FY2028 due to higher commodity prices and reduced costs.

Why It Matters: Vedanta shares have seen a significant rally, with brokerages projecting continued upside due to strong metal prices and capacity expansion.