Hyundai Motor India shares surged more than 5 percent in early trade on Thursday, despite a sharp decline in Q2 FY27 profits, as brokerages offered contrasting assessments of the automaker's growth prospects. Morgan Stanley expects a strong recovery in volumes, margins and market share, while Jefferies remains sceptical about intensifying competition in the SUV market.
Hyundai Motor India Ltd shares climbed 5.4 percent to Rs 1,968.50, taking the company's market capitalisation to approximately Rs 1.6 lakh crore. Despite Thursday's rally, the stock remains down 14.8 percent in 2026, compared with a 13.2 percent decline in the benchmark Nifty 50 index.
Morgan Stanley maintained its 'Overweight' rating with a target price of Rs 2,438, implying nearly 30 percent upside from Wednesday's closing price of Rs 1,879.90. However, Jefferies retained its 'Underperform' rating and cut its target price to Rs 1,630 from Rs 1,725, suggesting approximately 13 percent downside.
Citi maintained its 'Buy' recommendation but lowered its target price to Rs 2,200 from Rs 2,350.
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