Hyundai Financial News

Hyundai Motor India (HMIL), which listed on the bourses Tuesday with the country’s largest initial public offering, said it will continue to invest in the Indian market to expand capacity, deepen localisation and bring in new technologies that would include the launch of multiple electric vehicles to create value for shareholders. Speaking at the listing ceremony at the National Stock Exchange (NSE), Euisin Chung, Executive Chairman, Hyundai Motor Company, held the IPO shows that HMIL is a “key part of India”. This is the first IPO for a unit of the South Korean automaker outside South Korea. “As we move forward, HMIL will continue to embrace the highest standards in governance. Through its board of directors, HMIL will make prudent, transparent and timely decisions. Also, our commitment to localization will continue, based on the spirit of collaboration and shared growth. Our commitment to being a pioneer in future technologies will continue as well — right here in India”, Chung said.

Hyundai Motor India, which is set to debut on the bourses today, has earned 2 positive ratings from global brokerage firms Nomura and Macquarie as they have initiated coverage on the stock with the target price going as high as Rs 2,472. The stock has earned a buy rating with a target price of Rs 2,472 from Nomura, predicting a 26% upside while Macquarie has an outperform rating on the stock with a target price of Rs 2,235, which indicates a 14% upside potential.

Stay tuned to know about latest GMP, listing details, expert views, more.According to brokerage Master Capital Services, the Hyundai Motor India IPO, which launched on October 15, 2024, is highly anticipated due to the company’s strong market position in the Indian passenger vehicle segment. On 21st Oct, the company’s shares at pre-listing are trading at a grey market premium of ₹75 which is 3.8% higher than its original price band.

Subscribe to enjoy similar stories. Last week, Hyundai Motor India raised close to ₹28,000 crore through its initial public offering (IPO). Data from Prime Database suggests that as of 17 October, 42 IPOs had raised more than ₹78,000 crore during 2024-25.

Nomura and Macquarie have initiated coverage on Hyundai Motor India even before its listing, assigning a buy and outperform rating, respectively. Meanwhile, Jefferies has a hold rating on Oberoi, and Bernstein has a market-perform rating on Ultratech Cement. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

The IPO was booked 2.3 times, with full subscription achieved only on the last day. The valuations are fully priced, and since the issue is a complete offer for sale (OFS), the company will not receive any proceeds from the offer.

Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to its parent company in South Korea after its latest IPO also put pressure on the rupee

Subscribe to enjoy similar stories. Automakers are gearing up to launch a range of flex-fuel vehicles (FFVs), which can run on a variety of fuels, starting this year-end as the government aggressively promotes biofuels to cut emissions and reduce the country's dependence on costly oil imports.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says there are signs of a pickup in rural consumption in multiple pockets. It is not that uniform, but in pockets, rural consumption is picking up. As things stand today, there is pressure, but we might not have seen the best already. Further, the IT companies which are catering primarily to the BFSI segment or have a skew towards the BFSI segment are expected to win. For Mphasis, 60% plus business is coming from BFSI. Naturally they are the beneficiaries of that and we believe that they will continue to benefit from this trend. Deal wins also will start happening in BFSI. Bandyopadhyay is positive on Infosys as well. Would you concur with the view that Q2 early indication suggests margin weakness and a miss on earnings – more downgrades than upgrades? Sudip Bandyopadhyay: Unfortunately that looks like the scenario. There is definitely pressure and that is getting reflected in the financial numbers which are coming out in Q2. I would think that IT would be an outlier. There is generally a much better performance and much better traction as far as technology companies are concerned, but many other sectors are witnessing pressure. Very clearly the earnings are under pressure. Of course, there is a silver lining that we had a good monsoon and the festive season has kicked in. So the half year can be different. We will have to wait and watch for the festive sales numbers for pretty much all the sectors including automobiles.

retail investors can get an allotment for the maximum number of bids made. After sailing through on the last day of bidding, Hyundai Motor India is likely to finalise the share allotment for its IPO later today. Going by the subscription numbers, all the retail investors, who bid for the issue, will likely get allotment as the category was not fully subscribed. This is also the case with non-institutional investors.

Hyundai Motor India's ₹27,870 crore initial public offering (IPO) — the country's largest ever — was subscribed 2.37 times on Thursday the final day of bidding. The issue sailed through thanks to a strong appetite from institutional investors as the high net worth and retail investor categories failed to garner enough bids. Investors placed bids for 236 million shares worth ₹46,320 crore in the issue, against the 99.8 million shares worth ₹19,555 crore (excluding anchor allotment) offered by Hyundai Motor India's South Korean promoters. Earlier this week, the company raised ₹8,315 crore (roughly 30% of the IPO size) as part of the anchor allotment from 225 institutional investors.

Hyundai is telling the owners of nearly 1,600 hydrogen fuel cell vehicles in the U.S. and Canada to park them outdoors and away from structures due to the risk of fuel leaks and fires

Subscribe to enjoy similar stories. The success of India's biggest-ever initial public offering from Hyundai Motor India Ltd came down to one key factor: a strong response from qualified institutional buyers (QIBs). But the portion set aside for retail investors, who have been driving demand in the primary market this year, wasn't even fully subscribed.

Hyundai Motor India, the subsidiary of Korean auto major Hyundai, has submitted the pre-feasibility report to take up revamping and modernisation of its facility in Tamil Nadu at an outlay of Rs 1,500 crore. The expansion at the existing facility at Irungattukottai near here would create an additional 155 new jobs and the plant size would be increased to 7.21 lakh sq metre from the current 5.40 lakh sq metre. Hyundai Motor India has planned to expand the factory by adding additional 1.81 lakh sq metres of land at the factory. According to the company, it has proposed to take up revamping and modernisation of its existing manufacturing facility at Irungattukottai, Kancheepuram district in Tamil Nadu,

Gurmeet Chadha, Co-Founder & CEO, Complete Circle Consultants, says it is a little too early to comment on the festive season because we are not even midway of it, but if the trend continues, then there could be a little bit of derating in auto stocks because none of them trade below 25-30 times. Chadha also says that amongst two-wheelers, we have TVS Holdings also which is the holding company which they bought and Sundaram Clayton is in the portfolio. So, among the stocks that they would buy on a correction like this, TVS would be the first, followed by Bajaj Auto. He is more interested in auto ancillaries, including names like Sandhar Technologies and Uno Minda.

₹1,865 to ₹1,960 per share.The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%.

Pawan Parakh, Fund Manager, Geojit Financial Services, says in auto, we have hardly scratched the surface as far as electric vehicles are concerned, but a lot of these companies are getting valuations as if EV is 20%, 30%, 40% of their sales. This is one segment where, even at the OEM level, there are unbelievable valuations. Apart from that, in the retail space, once again some of the companies, despite how good the performance is, the valuations can be justified. Also, in some of these PSU names, a lot of the stocks have run up as if they are great Maharatna companies. These are the few pockets Parakh will be looking for the next two-three quarters. What so far within the earnings has really stood out for you either as a positive or a negative surprise? Pawan Parakh: So far not many companies have reported their earnings but whatever is out, it is one sector which we continue to like. Very clearly from now on or maybe a quarter onward you should see momentum coming back as far as its revenues are concerned. So, it is one sector which looks good. Some of the data that we picked up from various channels is that this time around e-comm sales are also being reasonably good.

sales growth in the first half of this fiscal year, underscoring continued weak consumer sentiment and sluggish demand in the world’s third-largest automobile market. Mahindra & Mahindra (M&M), Toyota Kirloskar Motor and Kia India reported higher sales, while others including the top three—Maruti Suzuki, Hyundai and Tata Motors saw sales decline during the period. Sales at Toyota Kirloskar—the maker of Fortuner and Innova Hycross models—grew more than 31%--the fastest pace among all automakers, in a market where overall volumes expanded by only 0.5%. M&M and Kia followed, clocking sales growth of 21% and 5.6%, respectively, according to data from the Society of Indian Automobile Manufacturers (SIAM).

construction company Deepak Builders and Engineers will open for subscription on October 21 and close on October 23. The company has fixed a price band of Rs 192-203 apiece. The IPO is a combination of a fresh equity sale of Rs 217 crore and an offer for sale (OFS) of 21 lakh shares.

Lakshya Powertech's issue has been garnering strong demand from investors. The issue, which opened for bidding earlier today, was already subscribed 30 times. This demand was driven by retail investors, whose category was booked over 50 times, followed by non-institutional investors at 24 times.

Dipan Mehta, Director, Elixir Equities, says Hyundai compares very well with Maruti. It may trade at a slight premium to Maruti also because of its product profile and the kind of distribution expansion opportunity which is there for the company and its superior EV strategy as well. If you are a long-term investor with a two, three, five-year view and prefer consumer-oriented stocks, then Hyundai fits that criteria. But, it is for the long haul and one should not expect a quick buck on listing. What are your thoughts on the Hyundai IPO? There was a steady response on day one. But it lacks that zing or that X factor that makes investors excited when it comes to the prospects on listing. Do you concur? Dipan Mehta: That is a good IPO to apply for and that’s how we are advising and a disclosure, we ourselves will be applying in the IPO. But you should not expect an amazing listing like what we have seen with other IPOs. It may be a more tepid listing because of its size and because of the sentiment in the auto industry as well. Even post-listing, you may have a situation where two-three quarters may be quite weak because we are seeing a transient slowdown in the auto sales and that may impact the profitability of all auto companies, Hyundai included.