Vedanta shares up nearly 15% this week, best in six months; check its highest price target

Shares of Anil Agarwal-owned metals and mining conglomerate Vedanta Ltd. are the top gainers on the Nifty Metal index this week. While the Metal index itself has gained 9% so far this week, shares of Vedanta are up nearly 15%. This is the best week for the stock since September last year.Vedanta, currently undergoing a demerger process, has surged in-line with all other stocks on the Metals index.
Metal stocks have seen a consistent upmove this week owing to a cooling US Dollar. The Dollar is now down to a four-month low and is set to break levels of ₹104 on the downside.
The US also plans to impose another 25% tariffs on aluminium and steel on March 12.Additionally, China has announced that it will maintain its growth rate around 5% in 2025, despite the looming tariff war with the US. China’s stimulus announcements have also given a leg up to metal names.

Brokerage firm Prabhudas Lilladher also expects India to put some safeguard duty which will create a floor for import prices and support domestic prices of steel.Vedanta’s shareholders & creditors recently approved the conglomerate’s demerger plan and the management expects the process to conclude by the end of the first quarter of financial year 2026.

The earlier plan was to split the existing listed entity into six separate listed companies. However, earlier this year, the company announced that it will not be demerging its base metals unit and that will be considered in the future once the business matures and realises the full potential for value creation for shareholders.

“The stock displayed a firm momentum reversal during the week, rebounding sharply from ₹400 and rallying towards ₹440 in just four trading sessions. This marks the first confident indication of reversal based on Impulse wave characteristics, further supported by the weekly RSI trending decisively above the 50 level. The ₹400 base should act as an immediate stop-loss zone, while any declines towards ₹420 should be viewed as buying opportunities to accumulate further longs for a long-term target towards ₹560,” said Sacchitanand Uttekar of Tradebulls.

“Vedanta has broken out from a bearish trendline, signalling a potential trend reversal. However, for confirmation, a pullback and successful retest of the trendline are needed. If the stock holds above this level after testing, it could gain strength and move toward ₹480. Support is expected around ₹430, making it a key level to watch. A successful retest would indicate strong buying interest and validate the breakout. Traders should wait for confirmation before taking positions, as sustaining above the trendline increases the probability of an upward move. Monitoring volume and price action will be crucial for further validation,” Jigar Patel of Anand Rathi told CNBC-TV18.