The list of auto sector stocks saw some profitbooking in Wednesday’s trade. However, Nomura maintained its ‘Buy’ rating on Hyundai Motors India and kept the target price the same at Rs 2,846, implying an upside of 4.55% from current levels.
Nomura, in a report, stated that Hyundai Motor India would benefit from a strong model cycle and rising SUV mix. After the GST reduction, we estimate that segments such as compact SUVs and diesel variants within them may gain share. The company has also reported a 50% jump in bookings in the past few days.
Nomura on Hyundai Motor India: Company’s export contribution to rise
Hyundai Motor Company (Global) has set a global volume target of 55 lakh units by 2030, out of which India is expected to contribute 15% to the overall volumes. This implies total domestic volumes at 8.3 lakh units by 2030 and a growth of 40% from 6 lakh units in 2025. Hyundai Motor India has previously mentioned that its export mix is expected to grow from 22% in FY25 to 30% by 2030. With this, the domestic automobile company’s total volumes could rise from 7.8 lakh in 2025 to 10.2 lakh units by 2030, a growth of 9% CAGR.
“We estimate that the export margins for Hyundai Motor India are stronger than the domestic margins, and thus a rising export mix should support margins. This should drive a 27% EPS CAGR for Hyundai Motor India over FY26-28,” said Nomura.
Nomura on Hyundai Motor India: 26 new launches by 2030
Hyundai India has guided for 26 new launches in India by 2030, which will be a mix of fresh nameplates and refreshed versions of existing models.
Hyundai Motor India stock performance
The share price of Hyundai Motor India has risen 0.46% in the last five trading sessions. The stock has declined 2% in the past one month and given a return of 2% in the last six months. Hyundai Motor India’s stock price has fallen by over 14% in the past one year.