Hyundai Motors India shares had fallen 6% from its debut. 

What Happened: Hyundai's parent company saw its operating profit fall 7% to 3.6 trillion won (around ₹21,936 crore) in the September quarter. In the previous year, the company had reported an operating profit of 3.8 trillion won (around ₹23,148 crore). The company's global retail sales fell 5% in the third quarter. 

Hyundai Motors India was listed at a discount on its opening day. The stock opened at ₹1,934 and ₹1,931 on NSE and BSE, respectively, compared to the IPO's upper price band of ₹1,960. 

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India's largest-ever IPO was subscribed only 2.37 times. The issue which was completely an offer for sale for the Korean parent, was met with concerns of high valuation from investors.

However, after the listing, brokerages were bullish on the company's prospects. Nomura gave a "buy" call with a target price of ₹2,472. The research firm expects the auto major to deliver an 8% volume compound annual growth for FY25-27.

Macquarie gave an "outperform" rating with a target price of ₹2,235. The brokerage firm said the company's strong portfolio and premium market positioning command a higher price-to-earnings multiple compared to its peers. 

Price Action: Shares of Hyundai Motor India were down 0.68% to ₹1,884 on Thursday. 

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