Archive · 26 Aug 2026
Hyundai Motor India Seen Entering Comeback Phase, Broker Says
A broker believes Hyundai Motor India could recover after several difficult years.
The company’s share of India’s car market has fallen significantly since FY21.
The broker says this happened partly because Hyundai introduced fewer new models and added limited production capacity.
Hyundai now plans to invest ₹45,000 crore in India.
This money is expected to support new cars, higher production and more locally made parts.
The company is targeting production capacity of 1.1 million vehicles a year by FY31.
The broker expects Hyundai’s market share to begin recovering after September 2026, helped by a new mid-size SUV.
Because of this expected improvement, the broker keeps a Buy rating and sets a target price of ₹2,600.
Hyundai Motor India’s broker maintains a Buy rating and raises its target price to ₹2,600 from ₹2,450.
The company’s domestic market share fell from 17.4% in FY21 to 12.5% in FY26.
A ₹45,000-crore investment plan is expected to support new products, capacity expansion and deeper localisation.
Hyundai plans 26 product actions, including seven new nameplates, over the next five years.
The broker forecasts 11% volume, 15% revenue and 16% EPS annual growth for FY26-29E.
- Who
- Hyundai Motor India and the broker covering its shares.
- What
- The broker retained a Buy rating and raised the target price to ₹2,600, citing an expected business recovery.
- When
- The report was published on August 26, 2026, with forecasts covering FY26-29E and capacity targets through FY31.
- Where
- India, which Hyundai Motor Company is developing as a strategic global hub.
- Why
- The expected recovery is based on ₹45,000 crore of investment, new product launches, capacity expansion, higher localisation and greater global integration.
- Broker rating
- Buy
- Current market price
- ₹2,265
- Target price
- ₹2,600, raised from ₹2,450
- Planned investment
- ₹45,000 crore
- Domestic market share
- 12.5% in FY26 versus 17.4% in FY21
- Production capacity
- Expected to rise to 1.1 million units annually by FY31 from 9,09,000 in FY26
- FY26-29E growth forecast
- 11% volume CAGR, 15% revenue CAGR and 16% EPS CAGR