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Hyundai Motor India shares saw decent buying on Friday, 25 September, as the stock rose by more than 2% to end at ₹2,105 on the BSE, snapping its four-day losing streak. Hyundai Motor India share price opened at ₹2,030.10 against its previous close of ₹2,062 and jumped 3.5% to an intraday high of ₹2,134.05.
Experts underscore that the stock is witnessing value buying today after the recent decline, mirroring the trend in several other auto stocks, such as Mahindra and Mahindra, Hero MotorCorp, and TVS Motor.
Anticipation of price hikes and healthy sales in the festive season also seems to have influenced sentiment.
"Hyundai Motor India’s recent rise is not purely a technical rebound. The move is supported by improving passenger vehicle demand, strong domestic volume recovery and expectations of a better festive season, although earnings recovery remains the key monitorable," said Vinit Bolinjkar, the head of research at Ventura.
Meanwhile, the company has opened bookings for the upcoming Bayon SUV at ₹11,000 through its website and dealerships. As Mint reported, the 4.2-metre SUV will be positioned between the Venue and Creta in Hyundai's India lineup and is set to launch during the 2026 festive season.
Some experts and brokerages recommend buying the stock on dips for the long term, underscoring that India is becoming a strategic global hub for Hyundai.
Brokerage firm Emkay Global has a buy recommendation on the stock with a target price of ₹2,600.
In a report on 25 August, Emkay said it expects recovery in Hyundai Motor India's market share from September 2026 with the launch of Bayon-based mid-size SUV, and expects it to clock superior growth amid industry moderation (on GST-cut led high base).
Emkay expects the company's volume, revenue, and EPS CAGR of 11%, 15%, and 16%, respectively, over FY26-29E.
"Hyundai Motor India is entering a comeback phase, with India increasingly becoming a strategic global hub for Hyundai. The next five years could mark a strong turnaround, led by the Rs450bn investments reflecting India’s growing strategic importance for Hyundai. This will translate into a stronger product cycle, calibrated capacity increase, deeper localisation, and greater integration with Hyundai’s global operations," said Emkay.
Emkay believes that the new product cycle should help reclaim lost market share by addressing key white spaces and drive higher ASPs via rising SUV mix, premiumisation, and exports.
"Strong domestic sales recovery, GST-led demand improvement and upcoming launches provide near-term support. However, sustained re-rating requires improvement in EBITDA margins, export recovery and SUV market share. Accumulate on corrections rather than chase the recent rally," said Bolinjkar.
While fundamental factors signal the stock could rise in the long term, on the technical front, Hyundai Motors' stock has been exhibiting different trends in different time frames. The stock is in a short-term downtrend, while the medium-term trend has been positive, and the stock remains sideways on long-term charts.
According to Aditya Thukral, founder and analyst at AT Research and Risk Managers, the stock is currently trading within the range of ₹2,130 and ₹2,020.
Thukral underscored that sellers are happy to create short-selling positions near this resistance, and buyers might be interested in taking an entry near previous resistances of ₹2,020, which are now working as support.
"It seems like the stock might try to hit ₹2,020 before making an impactful move above ₹2,130. Though the stock is trading with positive crossovers among its major EMA’s, a sideways consolidation is still needed to form a base around these levels, and the same is expected to happen in the near term," said Thukral.
"Buying on dips around ₹2,020 is suggested for medium-term investors as the stock is in the base formation phase. A stop loss at the higher low of ₹1,880 can be maintained, anticipating a move above ₹2,300 can be seen in the coming months," Thukral said.
Vipin Kumar, AVP-Research at Globe Capital Market, said the ongoing profit-taking found support around the gap support zone at the ₹2,020– ₹2,060 spot range, which also coincides with the confluence zone of its 6-month and one-year EMAs on daily charts.
"Moving ahead, we expect it to trade sideways, with immediate upside capped around the ₹2,300 level," said Kumar.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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