Amid focus on volume, value and cost reduction, ICICI Securities is bullish on Anil Agarwal-led Vedanta.
Shares of the largecap diversified metals company traded with a cut even as domestic brokerage ICICI Securities has resumed its coverage on the stock. The stock at the last count was down over 1 per cent at Rs 503.25 per share on the BSE.
The brokerage firm believes that the company’s growth shall be fuelled by its zinc business. Also, cost reduction in the aluminium segment will bode well for the company.
Furthermore, ICICI Securities is optimistic about the company’s other segment and sees them to clock decent growth going forward.
Additionally, the company is treading its growth path around two ‘Vs’ and one ‘C’ i.e. Volume, value, and cost reduction–across segments.
The stock of Vedanta hit its 52-week high price last week.