Hyundai India Share Price Listing Live: Hyundai Motor stock recovers from day’s low, down 2%
Hyundai Motor IPO Listing Live: Emkay Global initiates coverage on Hyundai with Reduce rating
We initiate coverage on Hyundai Motor India (HMIL) with REDUCE (TP of Rs1,750, at ~23x core Sep-26E PER, similar to MSIL) amid a lackluster ~5% EPS CAGR over FY24-27E. HMIL has established a strong franchise in India; however, lack of major launches (key growth driver historically in PVs) over the next 12-18M, muted ~5% capacity CAGR, higher royalty, and lower treasury income are likely to restrict EPS growth. While MSIL (REDUCE) also faces similar near-term growth challenges, we prefer it over HMIL given its catch-up on operational and financial metrics (even on lower SUV mix) with a much diversified product and…
