Shares of Hyundai Motor India Ltd (HMIL) rose more than 5 percent on Monday after CRISIL reaffirmed its long-term rating for the company at 'AAA' with a stable outlook.
Hyundai India said the rating reaffirmation underscores the company's highest degree of safety with regards to timely servicing of financial obligations.
Reacting to the development, the stock advanced as much as 5.01 percent to Rs 2,485.10 on the NSE, snapping a three-day losing streak.
In its annual report for 2024-25, HMIL Managing Director Unsoo Kim said the company is evaluating the introduction of Genesis, Hyundai's global luxury brand, in the domestic market.
He further noted that domestic sales growth in the current fiscal is expected to be broadly in line with industry estimates of low single digits, while exports are projected to grow 7-8 per cent in 2025-26.
"Global disruptions, macroeconomic uncertainties and a high base effect continue to pose challenges across the automotive industry. Yet, India's economic resilience and forward-looking policies, including repo rate cuts and income tax relief, are creating a more favourable landscape for consumption-driven sectors like ours," Kim said.
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