Hyundai Motor share price in focus: Maintaining its winning streak for the third consecutive trading session, Hyundai Motor’s share price gained 6.6% in Monday’s trade (June 9), hitting a fresh all-time high of ₹1,984.80 apiece on heavy volumes. The rally also helped the passenger vehicle (PV) maker surpass its IPO price of ₹1,960 for the first time since its listing in October last year.
The rally was driven by the company’s management sounding optimistic about sustained growth in exports, which has offset weak domestic demand in recent quarters amid falling urban buyer interest and a high base in recent years.
Hyundai Motor India is targeting single-digit volume growth in exports in the current fiscal year. “We aim to become Hyundai’s largest export hub outside South Korea. We aspire to continue our growth trajectory in exports in the coming years,” Hyundai Motor India Managing Director Unsoo Kim told analysts during a call.
“For FY26, we anticipate export volume growth of around 7–8%, supported by robust demand for our products in emerging markets,” Kim added. The country’s second-largest car manufacturer exported 163,386 vehicles in FY25 compared with 163,155 units in FY24.
The company recently announced significant enhancements to its premium SUV, the Hyundai Alcazar. It has also guided 26 launches by 2030, including eight launches in the next two years, some of which will be refreshes.
Meanwhile, industry body SIAM has projected passenger vehicle sales growth in the domestic market to be in the low single digits in FY26.
Is the stock set for a continued rally?
Domestic brokerage firm Kotak Institutional Equities retained its ‘Buy’ rating on the stock with a target price of ₹2,050. The brokerage expects industry trends to improve from 2HFY26, driven by multiple tailwinds despite near-term challenges. “We expect demand trends to remain muted in the near term, owing to weak consumer sentiment, limited new launches, and a high base,” it said.
Kotak forecasts the company to gain market share from CY2026, driven by new and refreshed product launches in the SUV segment across multiple powertrains and by expanding the total addressable market through foraying into the MUV segment in FY27.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
