InCred Equities expects Hyundai Motor India to see limited benefits from the GST rate cut, given its heavy reliance on SUVs, exports, and spares. The brokerage raised FY26F–28F sales estimates by just 3%, versus higher industry upgrades, citing weaker exposure to compact cars. Valuations are now 26% above Maruti Suzuki’s. Hyundai shares have risen 50% in six months.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets