Citi initiates coverage with 'Buy' on Hyundai Motor India; share up 3%

Hyundai share price: Recently-listed automobile giant Hyundai India share price was buzzing in trade on Tuesday, January 7, 2025, as the stock rose up to 2.61 per cent in intraday deals to a high of Rs 1,849 on BSE.

 

The rise in Hyundai India share came after global brokerage firm Citi Research initiated coverage with ‘Buy’ for target price of Rs 2,250. The target price reflects an upside of 24.87 per cent from the previous close of Rs 1,801.85 on January 6.

 

According to reports, the brokerage highlighted several key positives as it initiated coverage on the country’s second-largest automobile manufacturer. These include its strong parentage, diverse product portfolio, extensive sales and distribution network, and a strategic focus on premiumisation. Citi Research noted that Hyundai Motor Group ranked as the third-largest original equipment manufacturer (OEM) in the world by passenger vehicle sales in 2023, the report said. 

In a separate development, Hyundai Motor India announced that it is set to revolutionise the electric vehicle (EV) landscape with the upcoming launch of the Hyundai Creta Electric at the Bharat Mobility Global Expo 2025. 

 

 

“Designed to combine innovative technology, all-around safety and electrifying performance, the Hyundai Creta Electric is poised to become the go-to electric SUV for Indian customers,” Hyundai Motor India said in a statement.

 

Hyundai IPO

 

Hyundai Motor India saw a negative debut on the stock exchanges. The Hyundai India share listed at Rs 1,931 on the BSE, marking a 1.47 per cent discount to its issue price of Rs 1,960 per share. Similarly, on the National Stock Exchange (NSE), the shares debuted at Rs 1,934, reflecting a 1.32 per cent discount.

 

About Hyundai India

 

Hyundai Motor India, a wholly owned subsidiary of South Korea’s Hyundai Motor Company (HMC), is a prominent player in the global automotive industry. 

 

The company is known for producing reliable, feature-rich, and innovative four-wheeler passenger vehicles, leveraging cutting-edge technology. In addition to manufacturing vehicles, Hyundai Motor India produces key automotive components, including transmissions and engines, further strengthening its position in the industry.

 

Hyundai India share price history

 

In the last five trading sessions, Hyundai India share has risen about 1.5 per cent, while it has remained almost flat in the last one month. 

 

The market capitalisation of Hyundai Motor India is Rs 1,48,601.58, according to BSE. 

 

At 1:34 PM, Hyundai Motor India share was trading 1.50 per cent higher at Rs 1,828.85 per share. In comparison, BSE Sensex was trading 0.37 per cent higher at 78,253.64 levels.