Hyundai Motor India share price gains for fourth straight day, touches fresh all-time high
The stock has been maintaining its upward run since the company's release of June quarter numbers, which came in above Street estimates in late July, and has since gained 7%, which also pushed the company's market capitalization close to ₹ 2 lakh crore, just 11% away from reaching that mark.
Brokerages have also maintained their positive outlook on the company following its beat in operating margin, which came in more than 100 basis points above their forecasts at 13.3%, driven by a rich product mix (higher CNG contribution) and cost control measures.
The company has been targeting higher exports amid weak domestic demand, which supported its growth during the quarter, as it posted a net profit of ₹ 1,336 crore, higher than analysts' estimates of ₹ 1,259 crore. Exports grew 13% in the June quarter, while domestic sales dropped 6%, and the company targets overseas shipments to grow 7%–8% this fiscal year.
The PV maker has also downplayed concerns over China's rare-earth magnet export ban, saying its current stockpile is sufficient to handle any near-term disruptions, which also boosted investor confidence that there would be no immediate supply issues.
Though domestic demand was weak, analysts expect a gradual recovery led by a healthy monsoon, the upcoming festive season, the recent rate cut, and the 8th Pay Commission.
In its recent note, global brokerage firm Goldman Sachs initiated coverage with a 'buy' recommendation and set a target price of ₹ 2,600, expecting growth to be driven by successful EV models, market share gains in emerging markets, and upcoming product launches, which could lift market share by 120 basis points between FY25 and FY28.
The brokerage expects over 8% volume CAGR over the next three years, while Motilal Oswal has also factored in 8% volume CAGR over FY25–27E, citing the company's plan to launch 26 products (including variants) by FY30, of which eight would be launched over FY26–27E. It also retained its 'buy' rating on the stock with a target price of ₹ 2,408.
The stock, which made its debut on the Indian stock market in October 2024, stayed largely inactive for nearly seven months before gaining momentum in May. This rally continued in the subsequent months, allowing it to cross its IPO price of ₹ 1,960 for the first time in early June, a level it has held since.
The bullish momentum in Hyundai Motor's share price is being supported by strong technical indicators, positive outlooks from leading brokerages, and improving sentiment in the broader Indian market.
Together, these factors have helped the stock break out of its consolidation phase, delivering solid returns to IPO investors who remained invested.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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