Hyundai’s IPO shares had a very weak entry in the market. Hyundai IPO shares were listed on BSE and NSE with a discount of 1.48%, in 1931. Its IPO price was fixed at Rs 1960. After listing, the company’s shares fell by 6% on BSE to an intraday low of Rs 1846. That is the investors who have been allotted Hyundai shares have suffered losses on the very first day.
Meanwhile, the allottees are very confused as to what they should do now. Not only this, new investors are also afraid to bet in it. According to NSE data, there are more sellers of this stock than buyers. The buy quantity on this is more than 7 lakhs while the sell quantity is more than 27 lakhs. In such a situation, what do market analysts say? Let’s find out..
‘Wait for now…investors should not rush’ on Hyundai IPO shares
Arun Kejriwal, founder of Kejriwal Research, told Live Hindustan that the company’s shares were expected to have a flat listing. In such a situation, investors who have received this IPO should sell it immediately and exit even if they make a profit of Rs 100 per share in the next two to four days.
Should Hyundai IPO shares be bought now or not?
At the same time, new investors should not rush to enter this counter. The company’s shares are likely to grow only after the next 15 months. New investors will get many such opportunities in the coming days when they can enter this stock.
According to Kejriwal, this IPO is OFS-based, so the company will not get any income from this offering. Apart from this, the passenger vehicle segment is also sluggish and overall, there is no discount on the price of auto. This can also have an impact.
There will definitely be a buzz about the company’s Hyundai IPO shares in the next 3-4 days, but for now investors should not expect much profit from this stock. Arun Kejriwal says that HMIL has two manufacturing plants in Tamil Nadu at Irungattukottai and Sriperumbudur, both near Chennai city.
The company’s share price may increase,
After the company’s plant starts in Maharashtra, the company’s shares may have a positive impact. At present, investing in this stock would be a hurry. On the other hand, there is a possibility of a correction in the Indian stock market as well.
Swastika Investmart’s opinion on Hyundai IPO shares
Apart from this, according to the analyst of Swastika Investment, Hyundai IPO shares can be bet on for the long term. At the same time, according to an analyst of Stocksbox, those who have been allotted shares should hold on to them and keep a close eye on the company’s performance in the upcoming quarters. He has said that it can give profit in the future.
Here, even before listing, Nomura initiated coverage on this auto stock with a ‘buy’ rating and a target price of ₹2,472 per share. According to the brokerage, Hyundai Motor India focuses on technology and style. It believes that ongoing premiumization should lead to high-quality growth for the stock. Nomura expects the company to deliver an 8 percent volume CAGR over FY25-27F driven by 7-8 new models (including facelifts). It sees EBITDA margin improving to 14 percent by FY27 from 13.1 percent in FY24 due to cost reduction and improved operating leverage.
