Hyundai Motor India IPO Lists at 1.32% Discount: Hold or Exit?

Hyundai Motor India IPO list at Rs 1,934 per share in NSE with a discount of 1.32% from its issue price. Hyundai IPO issue price was Rs 1,960 but due to negative market sentiment, it lost its premium.

Hyundai Motor India share price dropped 4% after listing at discount. It shows that investors got disappointed who had invested for listing gains. Hyundai will be part of Nifty Auto Index, after attracting a decent trading volume. The Nifty Auto index is also down by 1.68% and showing signs of short-term bearishness in the technical chart.

Also Read | Hyundai Motor IPO Details Released Before Diwali 2024

Hyundai Motor India IPO GMP

Hyundai Motor India IPO GMP disappoints its investors from the first day of the subscription. In the day of listing, grey market premium slips negative which disturbs the sentiment of the investors.

Will Hyundai Motor India Share Price Recover?

Hyundai Motor India share price drops below the IPO issue price on the listing day. It is expected that if the Automobile companies share prices rise in the coming future then Hyundai Motor India share price may recover.

The company’s financials are good and business is strong. So, chances of long term growth in its share price remains high. However, in the short term period, Hyundai share price may face selling for a few more days before stabilizing. The technical charts suggest, till the price is holding the Rs 1800 support, long term investors should stay invested.

Hyundai Motor India Share Price: Short-Term View

Hyundai Motor India share price short-term view remains sideways. It is expected that the price will consolidate in the range between Rs 1700 and Rs 2000. In the coming few sessions, the buying zone will be visible in the technical chart. In the next Auto sales data releases, Investors are likely to closely monitor the official data which might directly impact the share price. 

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