Hyundai Motor India falls; Nomura maintains 'buy' on launch-driven growth outlook
BUZZ-Hyundai Motor India falls; Nomura maintains 'buy' on launch-driven growth outlook ** Shares of Hyundai Motor India HYUN.NS down 0.3% at 2,211.7 rupees
** Nomura maintains "buy" rating on HYUN and PT of 2,498 rupees
** Brokerage says the carmaker's growth to outpace the industry from H2FY27F on the back of more launches
** Company remains confident about achieving a volume target of 8%-10% for FY27E across domestic and export markets with a market share of 15%+ by FY30E, according to brokerage
** Company expects growth in mid-size and compact SUVs and EVs over the medium term and future launches will be aligned with this, Nomura says
** Hyundai also expects higher SUV contribution in exports in the medium term, says brokerage
** HYUN says 26 launches are planned over FY26-30E
** Brokerage sees a domestic volume CAGR of 11% over FY26-29F
** Stock rated as "Buy" on average by 29 analysts; median PT at 2,301 rupees, according to LSEG-compiled data
** YTD, stock down 3.7%
(Reporting by Mridula Kumar in Bengaluru)
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