Hyundai Motor India Stock Hits Record High On Three-Year Wage Deal With Employee Union

Hyundai Motor India's share price hit a record high in afternoon trade on Wednesday, Sept. 17, after the auto major signed a three-year wage deal with its employee union.

Hyundai Motor India announced the successful conclusion of a long-term wage settlement with the United Union of Hyundai Employees (UUHE) for the period April 2024 to March 2027.

The agreement provides a structured salary increase of Rs 31,000 per month, spread across three years in the ratio of 55, 25 and 20%. Alongside the hike, Hyundai Motor India reaffirmed its focus on employee welfare, offering best-in-class health cover and wellness programmes.

Commenting on the development, Mr Youngmyung Park, Function Head - People Strategy at Hyundai Motor India, said, "At Hyundai, our people are the cornerstone of our success. This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term organisational growth."

UUHE, which was registered in 2011, is the officially recognised representative body of the company's workforce. As of August 31, 2025, UUHE had 1,981 members, representing nearly 90% of the technician and workmen cadre at Hyundai's operations.

With the announcement of the wage deal, shares of Hyundai Motor India hit a record high of Rs 2659 apiece on the BSE.

This is a developing story.