Steady Start on Stock Market
Hyundai Motor India shares made their debut on the NSE at Rs 1,934, slightly below the IPO issue price of Rs 1,960, reflecting a modest 1.33% discount. By the end of the day, the stock closed at Rs 1,844.6, down by 5%. Although the initial listing was subdued, the performance aligns with expectations, given the company’s valuation and market conditions.
Analysts See Bright Future for Hyundai
Even though Hyundai’s stock dipped slightly, experts are still optimistic about its long-term growth. They point out that Hyundai is the second-largest passenger vehicle manufacturer in India and is focusing on SUVs, which bodes well for its success.
Global brokerage firms are also positive. Nomura has given Hyundai a ‘Buy’ rating with a target price of Rs 2,472, praising its strategy to offer premium products and advanced technology. Macquarie also sees potential, rating Hyundai as ‘Outperform’ with a target price of Rs 2,235, noting its strong market position and improving share in key segments.
Long-Term Focus on Innovation and Growth
Hyundai’s long-term prospects remain bright, particularly with plans to launch four new electric vehicle (EV) models in the coming years. The automaker’s commitment to research and development (R&D), supported by its parent company Hyundai Motor Global, is expected to drive innovation and future growth.
IPO Overview
Hyundai’s IPO, valued at Rs 27,870 crore, is the largest in India. It was oversubscribed 2.3 times, showing strong interest from individual investors. This IPO involved selling 14.2 crore shares from Hyundai’s parent company. The management has stated that the money raised will be used to improve research and development and to create new products.
