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Hyundai Motor’s shares have left most auto peers behind. The stock has risen 44 per cent from its IPO listing price of Rs 1,934 and gained 58.6 per cent in the past six months, more than twice the return of the Nifty Auto index. Traders say the rally reflects strong demand and a steady flow of positive triggers for the company.

Dealers report brisk sales at the start of the festive season. Hyundai clocked about 11,000 dealer billings on the first day of Navratri — its highest single-day tally in five years — helped by GST cuts and seasonal discounts. The company has also been rolling out new models to tap into fresh demand.

Behind the market excitement lies a solid financial record. Over the past three years, Hyundai’s sales have grown at a 13 per cent annual pace and profit after tax at 24 per cent. Analysts say the company’s SUV portfolio and upcoming launches give it a head start over rivals in the next growth cycle.

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Brokerage Nomura has reiterated its buy call on the stock with a price target of Rs 2,846. It expects Hyundai’s export mix — which already earns better margins than its domestic business — to grow further. Nomura projects a 27 per cent compound annual growth rate in earnings between FY26 and FY28 and sees Hyundai Motor India volumes rising 9 per cent annually from 2025 to 2030, potentially requiring fresh capacity.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.