Hyundai Motor India Ltd Share Price – NSE /  BSE

Automobile, Mid Cap

The scrip was listed at Rs 1931, at a 1.48% discount to its issue price.

The stock has hit a high of Rs 1968.80 and a low of Rs 1865.75 so far in the trading session. Over 8.06 lakh shares of the company had changed hands at the counter till now.

The initial public offer (IPO) of Hyundai Motor India received 23,63,27,903 bids for shares as against 9,97,69,810 shares on offer. The issue was subscribed 2.37 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 6.97 times. The Non Institutional Investors (NIIs) category was subscribed 0.60 times. The Retail Individual Investors (RIIs) category was subscribed 0.50 times.

The issue opened for bidding on 15 October 2024 and closed on 17 October 2024. The price band of the IPO was fixed between Rs 1865 and 1960 per share.

The IPO comprises entirely of offer for sale of 14,21,94,700 equity shares aggregating up to Rs 27,870.16 crore by Hyundai Motor Company.

Proceeds from the offer will not be directly received by the company, and all offer proceeds will go to the selling shareholders, distributed in proportion to the shares sold by them.

Hyundai Motor Company is the promoter. The promoters and promoter group hold 81,25,41,100 equity shares, aggregating to 100% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 82.5%.

Ahead of the IPO, Hyundai Motor India on Monday, 14 October 2024, raised Rs 8,315.28 crore from anchor investors. The board allotted 4.24 crore shares at Rs 1,960 each to 225 anchor investors.

Hyundai Motor India is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY23. Manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.

The firm reported a consolidated net profit of Rs 1,489.65 crore and sales of Rs 17,344.23 crore for the three months ended on 30 June 2024.

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The equity shares of Hyundai Motor India (Scrip Code: 544274) are listed effective 22 October 2024 and admitted to dealings on the Exchange in the list of A Group Securities.

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The equity benchmarks traded with significant losses in mid-morning trade. The Nifty traded below the 24,800 level. Realty shares slipped after advancing in the past three consecutive trading sessions. Trading could be volatile due to weekly F&O series expiry today.

At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 477.39 points or 0.59% to 81,017.66. The Nifty 50 index declined 194.35 points or 0.78% to 24,779.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.30% and the S&P BSE Small-Cap index declined 1.10%.

The market breadth was weak. On the BSE, 1,245 shares rose and 2,337 shares fell. A total of 148 shares were unchanged.

Economy:

The Union Cabinet has approved an additional installment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 1 July 2024 representing an increase of 3% over the existing rate of 50% of the basic pay/pension, to compensate against price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission. The combined impact on the exchequer on account of both DA and DR would be Rs.9,448.35 crore per annum. This will benefit about 49.18 lakh central government employees and 64.89 lakh pensioners.

IPO Update:

The initial public offer (IPO) of Hyundai Motor India received bids for 4,67,24,209 shares as against 9,97,69,810 shares on offer, according to stock exchange data at 11:15 IST on Thursday (17 October 2024). The issue was subscribed 0.47 times.

The issue opened for bidding on Tuesday (15 October 2024) and it will close on Thursday (17 October 2024). The price band of the IPO is fixed between Rs 1,865 to Rs 1,960 per share. An investor can bid for a minimum of 7 equity shares and in multiples thereof.

Buzzing Index :

The Nifty Realty index fell 3.19% to 1,050.35. The index rose 0.93% in the past three consecutive trading session.

Oberoi Realty (down 4.96%), Prestige Estates Projects (down 4.2%), Macrotech Developers (down 3.46%), Godrej Properties (down 3.09%), Phoenix Mills (down 3.06%), DLF (down 3.01%), Raymond (down 2.51%), Sobha (down 2.2%), Mahindra Lifespace Developers (down 1.51%) and Brigade Enterprises (down 1.46%) edged lower.

Stocks in Spotlight :

CRISIL added 2.85% after the company reported 12.9% rise in consolidated net profit to Rs 171.55 crore in Q3 CY2024 from Rs 151.99 crore in Q3 CY2023. Total income was up 7.9% to Rs 833.2 crore in 03 2024, compared with Rs 771.8 crore in the corresponding quarter of the previous year.

Mphasis advanced 5.21% after the company's consolidated net profit grew 4.65% to Rs 423.33 crore in Q2 FY25 as compared with Rs 404.50 crore in Q1 FY25. Revenue from operations rose 3.32% to Rs 3,536.14 crore in Q2 FY25 as against Rs 3,422.46 crore posted in Q1 FY25.

Global Markets:

Asian stocks traded lower on Thursday, buoyed by anticipation of government stimulus measures for China's property sector and strong earnings prospects for tech companies. Chinese shares were particularly upbeat ahead of a government briefing detailing support plans for the struggling real estate market. This briefing is part of a series of government initiatives aimed at bolstering the economy.

Asian markets received a positive boost from Wall Street's performance, where tech stocks and strong earnings contributed to gains on Wednesday. Investors are now focused on upcoming earnings reports and economic data. At the close in NYSE, the Dow Jones Industrial Average gained 0.79% to hit a new all time high, while the S&P 500 index added 0.47%, and the NASDAQ Composite index gained 0.28%.

On Thursday, investors will be watching U.S. retail sales and industrial production data for insights into the economy's health. As expectations for a slower pace of interest rate cuts by the Federal Reserve grow, these economic indicators will be closely monitored.

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