Vedanta Shares Rally to All-Time High on Demerger Hopes and Upgraded Target Price

Vedanta shares experienced a significant rally, climbing over 6% and reaching a fresh all-time high. This surge is largely attributed to Nuvama Institutional Equities upgrading its target price for the stock to Rs 806, citing potential value unlocking from the company's demerger. Nuvama also anticipates higher commodity prices and an improved EBITDA outlook, maintaining Vedanta as a top pick. The demerger process is reportedly nearing completion, with regulatory approvals progressing.