Hyundai Motor shares surge over 13% in two days, cross ₹2 lakh crore in market cap on hopes of GST rate cut

Hyundai Motor shares were in the spotlight today, rising over 5% on NSE to hit a 52-week high of ₹2,549.50 apiece. Hyundai Motor India, which is India’s second-largest passenger car maker after Maruti Suzuki by volume, is witnessing stock rise for the second consecutive day after the government proposed next-generation GST reforms by Diwali 2025, including GST rate rationalisation.

Experts believe the GST 2.0 reforms could reduce the GST rates on automobiles to 18% from the current 28%, leading to lower prices and sales revival in the coming festive season.

Hyundai Motor shares have gained over 13% in the last two trading sessions, while its market cap crossed ₹2 lakh crore. As of 2:00 pm, the stock is trading 4.7% higher at ₹2,537 per share with market cap of ₹2.06 lakh crore.

Hyundai Motor IPO, which is still the biggest IPO in India in terms of issue size, saw subdued demand from investors when the public issue was launched in October 2024. Hyundai Motor IPO listed at ₹1,931 per share, discount to its issue price of ₹1,960 per share.

After listing, Hyundai Motor shares kept sliding further, hitting a 52-week low of ₹1,541.70 in April 2025. However the stock recovered from its all-time low and currently Hyundai Motor stock is trading 65% higher compared to its 52-week low and 30% higher than IPO issue price of 1,960 per share.

Hyundai Motor India Q1 results

Hyundai Motor reported an 8% year-on-year (YoY) fall in profit after tax (PAT) to ₹1,369 crore in the first quarter of FY26. In the corresponding period last year, its profit was at ₹1,489.6 crore. The automaker's revenue from operations declined 5.4% YoY to ₹16,413 crore from ₹17,344 crore in the year-ago period.

The company reported an 11.5% YoY drop in domestic sales to 1.32 lakh units for the quarter ended June 30, 2025. Meanwhile, its exports rose 13% YoY to 48,140 units. The overall volumes slipped 6.1% YoY at 1.80 lakh units during the quarter.