The research house raised target price for Vedanta to Rs 350 per share from Rs 310 and increased target for Hindalco to Rs 270 from Rs 255.
The Nifty Metal index rallied more than 6.5 percent in six consecutive sessions following the rally in global metals prices, which will be resulted into better earnings performance for the current quarter.
Bajaj Finance shares fell more than 3 percent in afternoon as the company raised funds through QIP at a discount to its floor price.
The special committee of the company approved the closure of the issue period for the QIP (qualified institutional placement) today.
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