NEW DELHI: Shares of Vedanta surged over 2 per cent in Friday's trade after brokerage firm CLSA upgraded it to a buy. "We upgrade Vedanta from sell to buy and raise target price to Rs 150 from Rs 70," CLSA said.CLSA sees prices of key commodities stabilising, with zinc prices on improving trend. The stock has gained 25 per cent in the year so far.CLSA projects Vedanta's Ebitda growth at 18 per cent and EPS growth at 45 per cent over FY16-19. "After weak FY16, expect co to deliver strong earnings growth over FY17-19. Growth driven by rising aluminium, power & iron ore volumes, falling aluminium costs," it added.Reacting to the report, the scrip gained 2.61 per cent to hit a high of Rs 115.95 on the BSE.

Source: Economic Times June 10, 2016 04:28 UTC