JEFFERIES ON HYUNDAI MOTOR ; UNDERPERFORM | TP ₹1,630 VS ₹1,725 EARLIER

• Target Cut: Jefferies reduces target price by 5.51% to ₹1,630 from ₹1,725. • Q2 Performance: EBITDA and PAT DOWN 19–24% YoY, missing estimates. • Market Share: Market share slips to 12%. • Competition: Intensifying competition in the SUV segment poses challenges. • Bayon Launch: Jefferies remains sceptical about Bayon's market positioning. • Growth Outlook: Brokerage doubts meaningful market share recovery. • Impact: Negative 🔴

HYUNDAI MOTOR INDIA LTD

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