New Delhi, July 9 -- Vedanta Aluminium has been classified as a large-cap company in the Association of Mutual Funds in India's (AMFI) July 2026 half-yearly reclassification, less than a month after becoming an independently listed entity following the Vedanta Group demerger.
The inclusion places the company among India's top 100 firms by average market capitalisation, making it one of the fastest transitions from demerger listing to the large-cap category.
India's largest primary aluminium producer, with a 46 per cent domestic market share, operates the world's largest single-location aluminium smelter at Jharsuguda in Odisha.
Analysts remain positive on the stock, citing rising value-added production, improving cost efficiencies through backward integration and strong earnings growth prospects. Emkay Global has initiated coverage with a Buy rating, while Investec and CLSA have assigned target prices of Rs 630 and Rs 540, respectively, implying potential upside from current levels.
The AMFI classification also makes Vedanta Aluminium eligible for consideration by domestic mutual funds running large-cap mandates. In Q1 FY27, the company reported record aluminium production of 632,000 tonnes, up 5 per cent year-on-year, despite a sharp decline in London Metal Exchange aluminium prices. It also received an AA+ credit rating with a Stable outlook from ICRA.
The company said its large-cap inclusion reinforces the Vedanta Group's demerger strategy of creating focused, independently listed businesses. As of June 30, the combined market capitalisation of the group's five demerged entities stood at about Rs 3.28 lakh crore, compared with Rs 2.14 lakh crore for the unified entity at the beginning of the year.
Vedanta Aluminium now joins Vedanta Ltd and Hindustan Zinc in AMFI's large-cap universe.
Published by HT Digital Content Services with permission from Millennium Post.