Hyundai Motor India shares jump 7.2% as analysts expect rebound
Business
Hyundai Motor India's stock jumped 7.2% on Friday (the biggest spike in a year) after analysts said the company's earnings should bounce back soon.
Even though profits dropped last quarter, experts see stronger sales ahead, especially with new models and the festive season coming up.
Hyundai Motor India profit down 35%
Hyundai's profit fell 35% because of a supplier fire and higher costs, but the company stuck to its growth targets for the year.
This steady outlook has reassured investors, and brokerages like CLSA are keeping their "outperform" rating.
The positive vibe also boosted India's Nifty Auto index, showing that confidence in Hyundai (and the auto sector) is holding strong despite recent challenges.