ICICI Securities has reiterated its 'Buy' rating on Hyundai Motor India Ltd. while raising the target price to ₹2,475 from ₹2,250, implying an upside of around 25% from current levels. According to reports from NDTV Profit, the brokerage believes the company is getting product aggressive with its launch intensity expected to gain momentum over the medium term.
Key whitespaces in Hyundai Motor's product portfolio including compact E-SUV, off-roader SUV, hybrids, and MPV are likely to be addressed over FY27–30, as reported by ICICI Securities. For FY27, the company has announced plans to launch an ICE-mid SUV in a high volume, high-growth segment and a compact E-SUV foray to expand addressable market. These launches are expected to start around the upcoming festive season.
ICICI Securities envisages a turnaround starting H2 FY27 with the help of margin recovery levers and new product launches. According to the brokerage's product lifecycle mapping, there is upside risk to guided FMCs during FY27–28E. Exports are expected to remain on a firm footing owing to a strong order backlog and introduction of new models.
