Antique Stock Broking initiates Hyundai Motor India with "Buy"
BUZZ-Antique Stock Broking initiates Hyundai Motor India with "Buy" Sept 11 (Reuters) - ** Antique Stock Broking initiates Hyundai Motor India HYUN.NS with "Buy" and PT of 2,600 rupees
** Stock down 1.35% in late afternoon trade on Friday
** Brokerage says HYUN's growth to be supported by aggressive product cycle, including two new SUVs, and favourable domestic demand environment
** "Underlying demand drivers such as GDP growth at ~7.8% Y/Y in 1QFY27, benign interest rates, and finance penetration suggests a favourable industry scenario" - Antique
** Brokerage also says rising exports, with the company targeting 30% of sales mix by FY30, would support a richer mix
** Stock rated "buy" on average by 29 analysts; median PT at 2330.5 rupees - LSEG compiled data
** YTD, stock down ~4%
(Reporting by Aishwarya Jain in Bengaluru)
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