This target implies a potential upside of 21% from Monday’s (August 11) closing levels. In fact, Goldman Sachs’ target is the highest on the Street for the stock.
Shares of India’s largest IPO to date touched a post-listing high of ₹2,265.30 on July 1, 2025, delivering a 15.5% gain over the IPO price of ₹1,960.Goldman Sachs believes the company is well-positioned to outpace peers more visibly over FY27-FY28, driven by successful electric vehicle (EV) models and market share gains in emerging markets.
It expects Hyundai to benefit from upcoming product launches, driving a 120 basis points market share increase between FY25 and FY28.
The brokerage expects Hyundai Motor India to deliver over 8% forward three-year volume CAGR, compared to the domestic car industry’s estimated 5.3%.Near-term start-up costs, it said, should be offset by an improved SUV and export mix, while the company also stands to gain from a potential FY27 upturn in the domestic car market cycle.
For the first quarter of FY26, Hyundai Motor India posted a net profit of ₹1,369 crore, down 8% from ₹1,489.6 crore a year ago. Revenue also fell 5% to ₹16,413 crore from ₹17,344 crore last year.
Despite lower volumes, the company delivered an operationally healthy performance, aided by better realisations and a higher SUV mix.
“Near-term market sentiment continues to be muted, but we expect a recovery in demand with a good monsoon and festive season,” said Unsoo Kim, MD, Hyundai Motor India.
Hyundai Motor India will be hosting an investor day on October 15 to unveil its near-term plans. The company aims to launch 26 products by FY30.
Among the 26 analysts tracking Hyundai Motor India, 21 have a ‘Buy’ rating, three recommend ‘Hold’, and two have a ‘Sell’ rating.
On Monday, shares of Hyundai Motor India closed 1.45% higher at ₹2,151.10, up 9.75% from their issue price.
