Hyundai Motor India shares hit record high after long-term wage settlement; all you need to know

HMIL and the United Union of Hyundai Employees [UUHE] signed a mutually beneficial wage settlement agreement for the period 2024–2027, the company said in a regulatory filing.

The auto major has also decided to hike employee compensation by ₹31,000 effective from April 1, 2024, to March 31, 2027. The long-term wage settlement for the mostly technician/workmen cadre will be effective from April 1, 2024, to March 31, 2027, it added.

“The package includes an industry-best salary increase of ₹31,000 per month, structured over a three-year period in the ratio of 55%, 25%, and 20%,” Hyundai Motor India said.

In addition to the salary increase, the employee welfare schemes, including initiatives like health coverage and wellness programmes, will continue, it added.

"This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term organisational growth," Hyundai Motor India Function Head - People Strategy Youngmyung Park said.

Registered in 2011, the UUHE is the officially recognised representative body for the workforce of Hyundai Motor India Ltd. As of August 31, 2025, UUHE represents a membership of 1,981 employees (90% of the technician/workmen cadre).

On Wednesday, Hyundai Motor India shares closed at ₹2,650.40 on the NSE, up 1.82%. The stock has gained 6% over the past five trading sessions and 9.3% in the past month.

Over the last six months, shares have surged more than 66%, while year-to-date gains exceed 47%. As of September 17, the company’s market capitalisation stood at ₹2.16 lakh crore.

Meanwhile, Whole-time Director and Chief Operating Officer Tarun Garg had told news agency PTI that with the GST rate cuts expected to bring domestic sales back on a growth path, Hyundai Motor India Ltd is looking to ride on a 'double engine' drive of accelerated sales in the home market and continued momentum in exports.

In the last six to eight months, when the domestic market was slightly sluggish, the company had pressed the accelerator on exports, in contrast to the last few years when the focus was on meeting demand in India due to capacity constraints, Garg had said.

Hyundai Motor India has announced a price cut of up to ₹2.4 lakh across its entire model range. The reduction ranges from ₹60,640 on the Verna to ₹2.4 lakh on the premium SUV Tucson and will take effect from September 22.

For August, Hyundai Motor India Ltd (HMIL) had reported a 4.23% year-on-year (YoY) decline in total sales to 60,501 units in August 2025, compared to the same month last year. The company had sold 63,175 units in the same month last year.