Emkay Global Recommends Buy on Vedanta, Sets Target at Rs 625

Emkay Global Financial has issued a buy rating for Vedanta, setting a target price of Rs 625, based on strong earnings visibility from its key assets. In its research report, Emkay highlighted the performance of Hindustan Zinc (HZ), which contributes 40% to Vedanta’s consolidated EBITDA. Following a visit to HZ's Rampura Agucha mine, Emkay noted robust medium-term earnings prospects, driven by a secure mine life and strong structural entry barriers. Additionally, the guidance for FY27 includes zinc output of ≥1,080kt and silver production of approximately 700t.