Hyundai Motor India gains after foreign broker's 'Buy' call

Hyundai Motor India rose 3.84% to Rs 2,234.75 after a foreign brokerage initiated coverage on the stock with a 'Buy' rating and a target price of Rs 2,600.

The brokerage said Hyundai is well-positioned to tap into a key stress point in the auto industry, backed by a strong product cycle, planned manufacturing capacity expansion, and supportive macroeconomic conditions.

It added that Hyundai is poised to launch new products and capture additional market share as it ramps up output. This "strategic catch-up" plan is expected to provide a significant boost to the companys growth in the coming years.

Hyundai Motor India is engaged in the manufacturing and sale of passenger cars, along with the sale of motor vehicle parts and accessories.

 

On a consolidated basis, net profit of Hyundai Motor India declined 8.08% to Rs 1369.23 crore while net sales declined 5.55% to Rs 16179.62 crore in Q1 June 2025 over Q1 June 2024.

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