The national Stock Exchange indices will be displaying the performance of electric vehicle companies, revealed Nifty Indices. Furthermore, Nifty EV & New Age Automotive Index will also track the performance of companies which are a part of the EV ecosystem. This also includes companies which are involved in the development of new age automotive vehicles or which are related to technology.
Nifty Indices reveals that the index has a base date of April 02, 2018 and a base value of 1000. In addition to this, the stocks going to be a part of the Nifty 500 index at the time of review are eligible for inclusion in the index, provided they are in the production and supply of electric or new age automotive vehicles, batteries, components, raw materials, and technology. Furthermore, manufacturing of 2W/3W/4W/PV/CV Electric and New age automotive vehicles belonging to the Group A will be capped to 40%. Nifty als0 reveals that the index is reconstituted semi-annually and rebalanced on a quarterly basis.
Thanks to the inclusion of electric vehicle companies and companies part of the ecosystem. Asset managers will be able to invest in electric vehicle and new age automotive market. This will also bring investment specific to electric vehicle investors, reveals NSE Indices. The Nifty EV & New Age Automotive Index is also likely to help accelerate the EV ecosystem in the Indian market as well as promote the adoption of electric vehicle in India.
Currently there are 33 stock on the Nifty EV & New Age Automotive index. These include top players such as Tata Motors, Mahindra, Maruti Suzuki, Bajaj Auto, Exide Industries, Bosch, Eicher Motors, Samvardhana Motherson International, CG Power and Industrial Solutions, and Himadri Speciality Chemical. Electric vehicle manufacturing companies such as Ather Energy and Ola Electric are also planning an initial public offering soon.
Also Read: Kia Carens sales cross 1.5 lakh domestic sales milestone, was launched in February 2022