Hyundai Motor India shares in focus after 3-year wage pact; MOFSL says Buy stock
Hyundai Motor India share price target: MOFSL maintained Buy rating, given the healthy launch pipeline -- target to launch 8 models over FY26-27E including variants, and focus on exports.
- Sep 18, 2025,
- Updated Sep 18, 2025 7:51 AM IST
Shares of Hyundai Motor India Ltd are in focus on Thursday after the carmaker and its recognised trade union, the United Union of Hyundai Employees (UUHE), announced the signing of a long-term wage settlement agreement for 2024–2027.
In a filing to the exchanges, Hyundai said the agreement, effective from April 1, 2024, to March 31, 2027, includes an industry-leading salary hike of Rs 31,000 per month, phased over three years in the ratio of 55 per cent, 25 per cent and 20 per cent. The company added that the revised all-inclusive package “sets a new benchmark” for the auto sector.
Alongside the salary revision, Hyundai confirmed that employee welfare benefits such as health coverage and advanced wellness programmes will continue.
MOFSL on Thursday said it expects Hyundai Motor India to end FY26 with just 2 per cent growth after a weak start to the fiscal. However, led by a ramp-up of the new Pune plant and new launches, it sees the car maker to deliver 15 per cent volume growth in FY27.
"We maintain Buy rating on Hyundai Motors given its healthy launch pipeline (targets to launch 8 models over FY26-27E including variants) and its focus on exports," it said while suggesting a target of Rs 2,979 against Rs 2,408 earlier.
Commenting on the wage settlement, Youngmyung Park, Function Head – People Strategy at HMIL, said, “Our people are the cornerstone of our success. This agreement, built on mutual trust and respect, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term growth.”
UUHE, registered in 2011, is the officially recognised body representing Hyundai’s workforce. As of August 31, 2025, it had 1,981 members—accounting for 90 per cent of the technician/workmen cadre—underscoring its role in employee representation and engagement with management.
Shares of Hyundai Motor India Ltd are in focus on Thursday after the carmaker and its recognised trade union, the United Union of Hyundai Employees (UUHE), announced the signing of a long-term wage settlement agreement for 2024–2027.
In a filing to the exchanges, Hyundai said the agreement, effective from April 1, 2024, to March 31, 2027, includes an industry-leading salary hike of Rs 31,000 per month, phased over three years in the ratio of 55 per cent, 25 per cent and 20 per cent. The company added that the revised all-inclusive package “sets a new benchmark” for the auto sector.
Alongside the salary revision, Hyundai confirmed that employee welfare benefits such as health coverage and advanced wellness programmes will continue.
MOFSL on Thursday said it expects Hyundai Motor India to end FY26 with just 2 per cent growth after a weak start to the fiscal. However, led by a ramp-up of the new Pune plant and new launches, it sees the car maker to deliver 15 per cent volume growth in FY27.
"We maintain Buy rating on Hyundai Motors given its healthy launch pipeline (targets to launch 8 models over FY26-27E including variants) and its focus on exports," it said while suggesting a target of Rs 2,979 against Rs 2,408 earlier.
Commenting on the wage settlement, Youngmyung Park, Function Head – People Strategy at HMIL, said, “Our people are the cornerstone of our success. This agreement, built on mutual trust and respect, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term growth.”
UUHE, registered in 2011, is the officially recognised body representing Hyundai’s workforce. As of August 31, 2025, it had 1,981 members—accounting for 90 per cent of the technician/workmen cadre—underscoring its role in employee representation and engagement with management.