In the latest turn of events, Hyundai Motor India, officially marked its position as one of the most valuable automobile in India. The company made its stock market debut today (October 22) with a market capitalisation exceeding Rs 1.59 lakh crore.
Despite a lower than expected stock market debut, the listing of the company in the Dalal Street places Hyundai as one among the top five automakers in the country.
Hyundai’s Market Performance
The automaker’s much anticipated listing saw the stock open at Rs 1,934 per share on the National Stock Exchange (NSE) and Rs 1,931 on the Bombay Stock Exchange (BSE) on October 22, 2024.
This was 1.30 per cent and 1.47 per cent below its issue price of Rs 1,960 per share, marking a muted entry into the stock market.
Representative image
By 12:53 PM IST, Hyundai's shares were trading at Rs 1,903.90, a 1.56 per cent decline from the listing price on NSE.
Share performance - NSE
Despite the lukewarm debut, the company's strong market capitalisation has earned it a spot in the top 60 most valuable companies in India. The company now stands tall alongside industry leaders such as Maruti Suzuki, Mahindra & Mahindra, and Tata Motors.
Top 5 Automakers in India by Market Cap
1. Maruti Suzuki India, which continues to hold the top position with a market capitalisation of Rs 3.83 lakh crore.
2. Mahindra & Mahindra is positioned at the second spot with a market cap of a Rs 3.73 lakh crore.
3. Tata Motors secures third place with Rs 3.32 lakh crore.
4. Bajaj Auto ranks fourth with Rs 2.93 lakh crore market cap.
4. Hyundai Motor India’s Rs 1.59 lakh crore market cap places it in the fifth spot, ahead of established names like Eicher Motors and TVS Motor Co Ltd.
