Hyundai Motor India shares rose nearly 6% to ₹1,973.80 on the NSE on the morning of October 29, 2026, after the automaker reported a 24% decline in quarterly net profit. The move followed the results announcement, but the available information does not establish what caused it.
Key Takeaways
- Revenue rose more than 18.5% year on year in the July–September quarter, while higher material costs weighed on earnings.
- Nomura and Motilal Oswal retained buy ratings, although Nomura lowered its price target.
Hyundai Motor India shares follow mixed results
In its second-quarter financial results, released on October 28, Hyundai said commodity headwinds weighed on profitability. Consolidated net profit fell to ₹1,196 crore, even as revenue from operations rose to ₹20,696 crore from ₹17,461 crore a year earlier.
Total expenses rose more than 24% to ₹19,302 crore, including a 29% increase in material costs to ₹15,731 crore. EBITDA fell nearly 19% to ₹1,975 crore, and the EBITDA margin narrowed to 9.5% from 13.9% in the same quarter of fiscal 2026.
The company reported record quarterly vehicle sales of 219,072 units, up 15% year on year. The results cover the second quarter of its fiscal year ending in 2027.
Brokerages retain buy ratings
Nomura maintained its buy rating but cut its target price to ₹2,442 from ₹2,498. The brokerage said new models could support market-share gains in the second half of fiscal 2027 and in fiscal 2028.
Motilal Oswal also retained a buy rating, with a ₹2,300 target. It cited factors including Bayon bookings, planned product launches and an export order book in its outlook. These are brokerage assessments, not guarantees of future performance.
Hyundai shares were down about 15% in 2026 so far and more than 17% over one year, despite the morning’s advance.
Next milestone
Hyundai said it was preparing to launch a dedicated mass-market electric vehicle in the fourth quarter of fiscal 2027.
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