Hyundai Motor India shares can fall over 26%, says InCred Equities. Here’s why

InCred Equities projects a potential 26% drop in Hyundai Motor India's shares, setting a target price of Rs 2,023. They believe limited GST impact and high reliance on exports and SUVs will hinder revenue growth, unlike Maruti Suzuki and Tata Motors. Despite strong recent margins, new plant overheads may pressure future EBITDA.