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HomeMarket NewsHyundai Motor India shares make new post-listing high after 10% surge on Monday
Of the 26 analysts that have coverage on Hyundai Motor India, 21 have a "buy" rating, while three have a "hold" rating and the remaining two have a "sell" rating.
Shares of Hyundai Motor India Ltd. surged as much as 10% on Monday, August 18, witnessing their biggest intraday gain since making their stock market debut in October 2024.
The stock gained 9.9% to hit an intraday, post-listing high of ₹2,464.7 apiece on Monday.
Hyundai Motor India, like its peers, gained in trade on Monday on the back of potential GST rates rationalisation for the automobiles segment.
The Centre has proposed a sharp reduction in GST rates on entry-level two-wheelers, small cars and hybrid passenger vehicles, people in the know told CNBC-TV18. The proposal comes in the backdrop of Prime Minister Narendra Modi's announcement on Independence Day on a two-tier GST structure expected to take shape by Diwali.
Hyundai Motor India, which is India's largest IPO, made its debut on the stock exchanges on October 22, listing at a discount of 1.33% and 1.47% at ₹1,934 per share and ₹1,960 apiece on the NSE and BSE, respectively.
The stock crossed its IPO price of ₹1,960 for the first time on June 9, 2025, seven months after its listing.
On Monday, the stock is up over 25% from its issue price. It has also rebounded nearly 60% from its post-listing low of ₹1,541.7 apiece, which it fell to on April 7, 2025.
Of the 26 analysts that have coverage on the stock, 21 have a "buy" rating, while three have a "hold" rating and the remaining two have a "sell" rating.
Hyundai Motor India reported its first quarter earnings last month. Its net profit declined 8% to ₹1,489.6 crore in the June quarter from the previous year. However, it was higher than Street estimates of ₹1,15 crore.
Its revenue declined 5.4% to ₹16,413 crore from ₹17,344 crore in the June quarter last fiscal. It was also slightly below Street expectations of ₹16,575 crore.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 6.6% to ₹2,185.2 crore, but was above estimates of ₹1,989 crore.
The automaker's EBITDA margin was at 13.3% in the June quarter compared to 13.5% in the year-ago period but more than estimates of 12%.
Unsoo Kim, MD, Hyundai Motor India, said near-term market sentiment continues to be muted, but we expect a recovery in demand with a good monsoon and festive season.
The company's shares were trading 7.25% higher at ₹2,403.2 apiece around 2.25 pm. The stock has gained 34% this year, so far.
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