Morgan Stanley has initiated an Overweight (OW) rating on Hyundai Motor India (HMI) with a target price of ₹2,418, implying a 28% upside from the current market price of Rs 1,882 per share. highlighting the company’s strategic positioning in India’s growing automotive market. Hyundai’s planned capacity expansion, focus on SUVs, and commitment to electric vehicles (EVs) and hybrid electric vehicles (HEVs) are expected to drive growth in FY26 and FY27.
The brokerage notes that Hyundai is well-supported by its parent company’s robust product development and technology pipeline. At 19x FY27 Price-to-Earnings (P/E), Hyundai is attractively valued compared to the industry average of 22x, excluding Tata Motors.
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Hyundai Motor India