Hyundai Motor shares drop 8% in two days; analysts weigh in

Shares of Hyundai Motor India Ltd (HMIL) experienced a decline of 2.50 per cent in Thursday's trade, reaching a low of Rs 2,150. This marks a 7.59 per cent drop over two days. However, the stock has shown an upward trajectory over the past month, gaining about 15 per cent.

The recent decrease in share price comes on the back of disappointing June sales figures reported by India's third-largest carmaker. The company dispatched 44,024 units to dealers in June, representing a 12 per cent decline from the same period last year. Despite the weak domestic sales, Hyundai's exports remained strong, with 16,900 units shipped during the month.

A few market experts maintain a positive long-term outlook for Hyundai. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted Hyundai's strong understanding of the Indian market, advising investors with a long-term perspective to hold on to their stocks.

Osho Krishan, Senior Analyst at Angel One, said, "In recent sessions, the stock has entered a period of cool-off, characterised by profit-taking. The immediate support level is identified at around Rs 2,030, with a subsequent support zone at Rs 1,990. The overall view appears solid, indicating that any price dips may present advantageous opportunities for accumulation within the stock."

Jigar S Patel, Senior Manager at Anand Rathi, observed that support on the counter will be at Rs 2,050 and resistance at Rs 2,150. He said, "A decisive move above Rs 2,150 may trigger a further upside towards Rs 2,200. The expected trading range will be between Rs 2,050 and Rs 2,200 in the short term."

As of March 2025, Hyundai's promoters held an 82.50 per cent stake in the carmaker. Around 44,000 shares were last seen changing hands on BSE. The figure was lower than the two-week average volume of 1.01 lakh shares. Turnover on the counter came at Rs 9.22 crore, commanding a market capitalisation (m-cap) of Rs 1,69,792.65 crore.