Hundai Motor's No.2 position (on an annual basis) in the domestic PV market is under threat, with key competitors for the position, M&M and Tata Motors closing in with a popular and balanced portfolio. (Photo Image source: Hyundai Motor India) Hyundai Motor India is currently trading at a premium to Maruti Suzuki, which we believe is because of the company’s stretched valuations. Considering that the passenger vehicle industry has got a fillip post the GST rate rationalization, we expect it to trade close to, but below Maruti Suzuki’s valuation.

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