Stock market today: In line with market estimates, Hyundai Motor India shares opened at a discounted price on the BSE and NSE on Tuesday, October 22. Hyundai share price opened on the BSE at ₹1,931 apiece, whereas, on the NSE, it listed at ₹1,934 per share, debuting at around a 1.50 per cent discount against the upper price band of ₹1,960 apiece. The newly-listed stock witnessed further selling pressure and hit a new low of ₹1,844.65 per share on the NSE.
According to stock market experts, Hyundai Motor India is India's second-largest passenger vehicle manufacturer with strong fundamentals. They advised medium to long-term investors to hold the scrip as the company indulges in innovation, especially in the SUV segment, which is expected to fuel its business growth.
Speaking on the outlook of Hyundai share price, Shivani Nyati, Head of Wealth at Swastika Investmart, said, “Despite the discounted listing, Hyundai Motor India's strong fundamentals, being the second-largest passenger vehicle manufacturer in India and its strategic focus on the SUV segment, continue to support its long-term growth prospects. Investors who entered with a long-term perspective may consider holding the stock, as future performance will likely be driven by the company's competitive market position and product innovations.”
On the suggestion to fresh investors, Prashanth Tapse, Senior vice president of research at Mehta Equities, said, “For fresh new investors wishing to buy post listing, we advise waiting and watching for the price to settle and revisiting the space with better-discounted opportunities. The best range for accumulating Hyundai is a 10-15% discount on its issue price. For the long term, Hyundai's growth story remains intact and in line with India's growth story.”
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
