So far, the largest public issue (IPO) in the country has been that of Hyundai Motor India Limited. Last year, the Hyundai IPO raised ₹27,858 crore from the market. The company issued each share at a price of ₹1,960. These shares were listed on the market on October 22. Since then, until recently, Hyundai Motor shares had not crossed the offer price. However, in the past few days, there has been significant movement in Hyundai Motor India shares. For the first time recently, the company’s shares crossed ₹2,000 and remained above that level. That means, for the past two days, Hyundai Motor India shares have also touched new highs. On Wednesday too, the company’s shares reached a 52-week high of ₹2,145 for the first time.
However, they finally closed at ₹2,125 on the BSE, with a gain of ₹53. Exchanges have also sought clarification from the company over the increased trading volumes in the company's counter over the past few days. Several brokerage firms are stating that this share may rise up to ₹2,350, which is also said to be one of the reasons for the stock's upward movement. Nomura has recommended buying the shares and revealed a target price of ₹2,291. Domestic firm Avendus Spark, however, has given a price target of ₹2,350. Additionally, the company’s potential to establish a strong foothold in the EV market is also being cited as a reason for the rise in its share value.