The ‘Declaration of Preferred Bidder’ notification was received by the company on February 27, 2026, at 04:20 pm IST. The Karnapodikonda bauxite block is at the G2 level of exploration and spans a total area of 532.747 hectares. The block is expected to support strategic backward integration for Vedanta’s aluminium business.
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Two days ago, brokerage firm BoFA Securities upgraded Vedanta in its latest research note. BoFA has upgraded Vedanta to “buy” from its earlier rating of “neutral” and raised its price target by 75% to ₹840 from ₹480 earlier. The upgrade comes on the back of BoFA’s bullish view on aluminium, supportive silver prices, and a healthy dividend yield of around 6%.Additionally, significant deleveraging at the parent company minimises the risk of an increase in brand-fee rate of inter-corporate loans, BoFA wrote in its note.
On the back of higher aluminium forecasts, higher fair value for Hindustan Zinc, a depreciation in the rupee against the US Dollar, and a reduction in the holding company discount to 5% to 15%, the brokerage has raised its financial year 2026 – 2028 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Vedanta by 16% to 21%.
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BoFA’s price target for Vedanta is the third highest on the street for the stock after Citi (₹900) and Systematix Group (₹898). 15 analysts have coverage on the mining conglomerate, of which 11 have a “buy” rating and the other four have a “hold” recommendation. No analyst tracking the stock has a “sell” recommendation on it.
Shares of Vedanta Ltd ended at ₹718.45, down by ₹18.90, or 2.56%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
