Shares of Anil Agarwal-owned mining conglomerate Vedanta Ltd., have been upgraded by brokerage firm Investec after the recent correction seen in the stock price, in-line with the fall in other metal stocks.

Investec has upgraded Vedanta to “buy” from its earlier rating of “hold”. However, the brokerage has left its price target unchanged at ₹510, which still implies a potential upside of 35% from Vedanta’s closing price on Tuesday.

Vedanta shares have corrected 17% in the last one month and this, according to Investec, presents an attractive opportunity, given the average free cash flow and dividend yield of 12% and 7% respectively over financial year 2026 and 2027 respectively. These attractive yields drove Investec’s…