Vedanta share price in focus: Shares of mining giant Vedanta maintained their strong upward momentum on Wednesday, January 14, extending gains to the fourth consecutive trading session. Vedanta share price jumped 6.6% to hit a fresh all-time high of ₹679.45 per share, taking the cumulative four-day gain to 13%.
Besides Vedanta, key metal stocks also traded higher as the rally in both base metals and precious metals remained firm, with the prospect of a criminal indictment against Fed Chair Jerome Powell reviving worries about the monetary authority’s independence.
Meanwhile, the rally was also supported by Trump’s capture of Venezuela’s leader, his renewed threats to take Greenland, and violent protests in Iran. These developments helped keep broader metal stocks elevated even as frontline indices remained under pressure.
Nuvama raises Vedanta share price target to ₹806
The sustained rally in base metals not only lifted market sentiment but also prompted domestic brokerage firm Nuvama Institutional Equities to raise its target price on Vedanta share price.
In its latest report, the brokerage upgraded the target to ₹806 per share from ₹686 earlier, implying an upside of 26.5% from the stock’s Tuesday closing price.
Apart from rising base metal prices, the brokerage factored in value unlocking from the ongoing demerger by raising valuation multiples across segments.
Incorporating higher commodity prices and volume adjustments, these changes collectively lifted the target price to ₹806.
The sustained rally in LME aluminium, zinc, and silver prices led the brokerage to upgrade its estimates, raising FY27E and FY28E EBITDA forecasts by 17% and 8%, respectively, to factor in higher commodity prices. As a result, EBITDA is expected to grow at a 20% CAGR over FY25–28E, said Nuvama.
During FY16–26, average LME aluminium, zinc, and silver prices stood at USD 2,170 per ton, USD 2,754 per ton, and USD 22.7 per ounce, respectively. Amid expectations of a global deficit in aluminium, zinc, and silver in CY26, the brokerage expects prices to remain well above historical averages.
It now projects average aluminum prices of USD 3,000 and USD 2,750 (earlier USD 2,700), average zinc prices of USD 3,000 and USD 2,900 (earlier USD 2,850), and average silver prices of USD 60 and USD 55 per ounce in FY27E and FY28E, respectively (earlier USD 40 per ounce).
Besides higher commodity prices, cost reductions in aluminium, volume growth in international zinc, and improved power performance are expected to support Vedanta’s EBITDA, which is projected to grow at a 20% CAGR over FY25–28E to ₹724 billion, as per Nuvama.
Vedanta share price jumps 12% in early 2026
After delivering bumper 36% returns to shareholders in 2025, Vedanta share price has extended its winning streak into 2026, rallying another 12% in the first 10 trading sessions of 2026. The rally has also contributed to a 111% jump over three years and a 275% rally over five years.
Disclaimer: : This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
