New Delhi, June 24 -- Vedanta Aluminium Metal share price rallied over 2% in early trade on Wednesday after CLSA initiated coverage on the stock with a bullish view, expecting an 18% upside potential on the stock. Vedanta Aluminium shares gained as much as 2.46% to Rs.469.00 apiece on the BSE.

Global brokerage firm CLSA assigned an 'Outperform' rating on Vedanta Aluminium Metal shares, with a target price of Rs.540 apiece, based on 6x FY28CL EV/Ebitda. The target price implies an upside potential of 18% from Tuesday's closing price.

The bullish view on Vedanta Aluminium has been supported by a higher for longer aluminium cycle and robust operational tailwinds. It expects backward integration to lift the company into the first decile of ...