New Delhi, June 18 -- Shares of demerged stock Vedanta Aluminium Metal Ltd (VAML) rose 3% in intraday trade on Thursday, June 18, for the first time since listing on 15 June. It snapped a two-session losing streak after two brokerages initiated coverage on the newly listed company with Buy ratings.

The stock had declined 1.2% and 5% in the previous two trading sessions, respectively. Thursday's gains came after Citi and Kotak Institutional Equities began coverage, highlighting favourable aluminium market dynamics, capacity expansion plans and ongoing cost-efficiency measures as key growth drivers.

The brokerage optimism follows VAML's blockbuster stock market debut. Shares of the demerged Vedanta Group company listed at Rs.522 apiece on...