Hyundai Motor stock joins ₹2-trn market cap club; zooms 60% from April low

Analysts believe Hyundai Motor India remains well-positioned to benefit from the premiumisation trend in India, given its mix in favor of SUVs

Hyundai Motor India share price today

 

Hyundai Motor India shares hit a new high of ₹2,464.70 on the National Stock Exchange (NSE) today, surging 10 per cent in Monday's intraday trade, amid heavy volumes. The stock price of India's second-largest player in the passenger vehicle (PV) segment surpassed its previous high of ₹2,270 which it touched on August 14, 2025.

 

The stock has bounced back 60 per cent from its 52-week low of ₹1,542.95, touched on April 7, 2025. Currently, Hyundai Motor India is trading 26 per cent higher over its IPO issue price of ₹1,960 per share. The company made stock market debut on October 22, 2024.

 

 

A sharp rally in Hyundai Motor shares took the company's market capitalisation above ₹2 trillion for the first time on the NSE intraday. At 01:40 PM, Hyundai Motor m-cap atood at ₹1.96 trillion with the auto stock quoting 8 per cent higher at ₹2,410 on the stock exchange. In comparison, the Nifty50 index was up 1.3 per cent at 24,952 level. 

Goods and Services Tax (GST) rationalisation

 

Prime Minister Narendra Modi, in his Independence Day address, announced the proposal to roll out "next generation GST reforms" by Diwali 2025. One of the key objectives of the reforms is to simplify the GST system, introduced in 2017, by rationalising tax slabs and reducing rates on essential goods and daily use items.

 

Prima facie the tax changes could be positive for sectors and stocks related to consumption in general such as staples, consumer discretionary, dairy, quick commerce, auto, budget hotels etc, according to analysts.

 

Currently, most four-wheelers, passenger cars (petrol, diesel, CNG, etc.) attract 28 per cent GST. However, over certain cubic capacity (cc) petrol/diesel/SUVs and luxury vehicles face an additional compensation cess of up to 22 per cent, taking the effective total tax towards 50 per cent. Electric two-wheelers and cars enjoy a concessional 5 per cent rate to encourage clean mobility.

 

"If implemented, this would be positive for the auto sector. SUVs, which currently face 28 per cent GST plus cess, may also gain if base GST rate is lowered, though cess may continue based on the vehicle size," ICICI Securities said in a note.

 

Echoing similar views, Arun Agarwal, VP-Fundamental Research at Kotak Securities, said lower (on-road) prices of passenger cars would stimulate demand recovery, particularly in the mass-market segment.

 

"Auto manufacturers (OEM) would gain from higher revenue and potentially higher margin, resulting in possible earnings upgrade," he added.

 

Motilal Oswal Financial Services (MOFSL) has a 'Buy' rating on Hyundai Motor India with a share price target of ₹2,408, valued at 27x Jun’27E.

 

Considering its launch pipeline, the brokerage firm factors in an 8-per cent volume compounded annual growth rate (CAGR) over FY25- 27E, which is largely back-ended.

 

The brokerage firm also factors in the startup costs of the new Pune plant to impact earnings in the near term and normalise in FY27E.

 

"Overall, we expect Hyundai Motor India to deliver 10 per cent earnings CAGR over FY25-27E. We believe Hyundai Motor India remains well-positioned to benefit from the premiumisation trend in India, given its mix in favor of SUVs," the brokerage had said in its Q1 results review report.