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Journey from Santro to IPO has been challenging but immensely satisfying, says Hyundai Motor India COO Tarun Garg
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The stocks of Hyundai Motor India have also entered the ranks of the top 60 most valuable companies in India
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despite the listing over 1 percent below issue price of Rs 1,960 per share.
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After lacklustre listing at Rs 1,931 per share, Hyundai Motor India's shares extended fall and are currently trading in red.
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the Indian subsidiary of the auto giant has become fifth most valuable automaker in India.
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Executive chair at the South Korean automaker Hyundai Motor Group Euisun Chung (L) speaks during the listing ceremony of Hyundai Motor India for its initial public offering (IPO) at the National Stock Exchange (NSE) in Mumbai on October 22, 2024.
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Hyundai Motor India had a lacklustre market debut on October 22, after raising $3.3 billion in the country's biggest-ever IPO.
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– HMC’s technological prowess in emerging technologies that can be adapted to domestic requirementssuperior financial metric
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– We initiate coverage on HMI with a BUY rating and a TP of INR2,345, premised on 27x Sep’26E earnings (vs. 26x for MSIL)
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