Vedanta shares are in focus after its subsidiary Hindustan Zinc reported a sharp jump in second-quarter profit and beat Street estimates, prompting brokerage Emkay Global Financial Services to maintain its bullish stance on the mining major.
Analyst at Emkay Global have reiterated its Buy rating on Vedanta with a target price of ₹350, against the current market price of ₹243 as of 19 October, implying a potential upside of around 44%. The brokerage expects strong operating performance at Hindustan Zinc, which contributes approximately 90% of Vedanta's consolidated EBITDA, to support earnings growth in FY27.
Hindustan Zinc reported a 142% year-on-year increase in consolidated net profit to ₹6,412 crore for the quarter ended 30 September 2026, compared with ₹2,649 crore in the year-ago period. Revenue from operations rose 76.5% to ₹15,093 crore from ₹8,549 crore.
Vedanta share price today, 21 October, ended 2.98% lower at ₹235.75 per share on the BSE.
According to Emkay Global, Hindustan Zinc's reported EBITDA rose 14.2% sequentially to ₹9,290 crore, beating the brokerage's estimate by 6.9% and consensus expectations by 9.2%.