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Vedanta Secures Preferred Bidder Status for Karnapodikonda Bauxite Block in Odisha
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Vedanta Secures Karnapodikonda Bauxite Block in Odisha, Boosts Aluminium Business
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CNBC TV18
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27-02-2026, 23:11
Vedanta Secures Karnapodikonda Bauxite Block in Odisha, Boosts Aluminium Business
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Vedanta Ltd declared preferred bidder for Karnapodikonda bauxite block in Odisha after state government auction.
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The block, spanning 532.747 hectares, is expected to support strategic backward integration for Vedanta’s aluminium business.
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BoFA Securities upgraded Vedanta to "buy" with a 75% price target increase to ₹840, citing bullish aluminium views and healthy dividend yield.
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BoFA raised Vedanta's FY26-28 EBITDA estimates by 16-21% due to higher aluminium forecasts and rupee depreciation.
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Vedanta shares closed down 2.56% at ₹718.45 on BSE, despite positive analyst ratings.
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