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Hyundai Motor India Share Price: Hyundai Motor India’s mega-IPO may have disappointed shareholders upon its listing. But brokerage houses are still bullish on the stock. Motilal Oswal Financial Services has released its coverage report on Hyundai Motor India stock. The brokerage house has advised investors to buy the stock. According to Motilal Oswal, the stock can give a return of 20 percent from its issue price.
Hyundai Motor’s shares can give 30% return
Motilal Oswal has placed Hyundai Motor India at a slight premium over Maruti Suzuki in terms of adoption of emerging technologies keeping domestic needs in mind, financial metrics, premium brand perception and keeping up with industry trends. This is the reason why Motilal Oswal has advised investors to buy the stock of Hyundai Motor India for a target price of Rs 2345. That means the stock can give a return of about 30 percent from its current level.
Hyundai Motor disappointed on the first day of listing
Hyundai Motor India’s IPO had a lackluster start on the stock exchanges and investors who invested in the IPO suffered losses on the very first day. The share with issue price of Rs 1960 closed at Rs 1819.60. That means the share has slipped 7.16 percent or Rs 140 below its issue price. But from this level the stock has the potential to give returns of up to 30 percent.
Diverse Portfolio near Hyundai Motor
Motilal Oswal has said in its report that Hyundai Motor India has a diverse portfolio which covers 87 percent of the Indian passenger vehicle market. According to the report, the domestic market share of Hyundai Motor India is excellent. And the fastest growing segments include 34 percent market share in mid-size SUVs, 20 percent in compact SUVs and 18 percent in premium compact cars. 63 percent comes with mixed utility vehicles.
Second largest export company
The brokerage house has said in its report that Hyundai Motor India is getting full support from the parent company Hyundai Motor Company in research and development, design, supply chain. According to the report, Hyundai Motor India is India’s second largest passenger vehicle exporting company and there is strong potential for its growth in future also.
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