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Vedanta declared preferred bidder for Karnapodikonda bauxite block in OdishaShares of Vedanta Ltd ended at ₹718.45, down by ₹18.90, or 2.56%, on the BSE.By Jomy Jos Pullokaran  February 27, 2026, 11:11:26 PM IST (Published)2 Min ReadOil-to-metals conglomerate Vedanta Ltd on Friday (February 27) said it has been declared the preferred bidder for the Karnapodikonda bauxite block in Odisha following an auction process conducted by the state government.

The Directorate of Mines and Geology, Government of Odisha, had invited tenders through a ‘Notice Inviting Tender’ dated December 4, 2025. Vedanta qualified at the initial bid stage and participated in the live e-auction for the grant of the mining lease.

The 'Declaration of Preferred Bidder' notification was received by the company on February 27, 2026, at 04:20 pm IST. The Karnapodikonda bauxite block is at the G2 level of exploration and spans a total area of 532.747 hectares. The block is expected to support strategic backward integration for Vedanta’s aluminium business.

Also Read: Vedanta board approves ₹3,000 crore fundraise via NCDs

Two days ago, brokerage firm BoFA Securities upgraded Vedanta in its latest research note. BoFA has upgraded Vedanta to "buy" from its earlier rating of "neutral" and raised its price target by 75% to ₹840 from ₹480 earlier. The upgrade comes on the back of BoFA's bullish view on aluminium, supportive silver prices, and a healthy dividend yield of around 6%.

Additionally, significant deleveraging at the parent company minimises the risk of an increase in brand-fee rate of inter-corporate loans, BoFA wrote in its note.

On the back of higher aluminium forecasts, higher fair value for Hindustan Zinc, a depreciation in the rupee against the US Dollar, and a reduction in the holding company discount to 5% to 15%, the brokerage has raised its financial year 2026 - 2028 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Vedanta by 16% to 21%.

Also Read: Aluminium deficit to support prices; Vedanta top pick: Kotak’s Sumangal Nevatia

BoFA's price target for Vedanta is the third highest on the street for the stock after Citi (₹900) and Systematix Group (₹898). 15 analysts have coverage on the mining conglomerate, of which 11 have a "buy" rating and the other four have a "hold" recommendation. No analyst tracking the stock has a "sell" recommendation on it.

Shares of Vedanta Ltd ended at ₹718.45, down by ₹18.90, or 2.56%, on the BSE.Continue Reading(Edited by : Jomy Jos Pullokaran)Tagsshare market todayVedanta