JPMorgan Upgrades Hindalco & Vedanta to Overweight; Shares Jump up to 4%

Shares of

ustries and Vedanta rose up to 4% on Tuesday after global brokerage JPMorgan upgraded both stocks to 'Overweight' from 'Neutral', citing sustained higher aluminium prices and stronger profitability ahead. The brokerage highlighted aluminium price gains driven by supply disruptions, inventory tightness, rupee depreciation, and geopolitical tensions in West Asia. It expects substantial earnings growth for both companies over the coming quarters. JPMorgan raised Hindalco’s price target to ₹1,125 (from ₹875) and Vedanta’s to ₹850 (from ₹680), implying up to 22% upside potential.