Hey if you wants to know about Best EV Stocks In India In 2023 then you are at right place
Welcome to PrimeRandom In this post, we will examine a range of top EV stocks in India, from auto manufacturers like Tata Motors and Mahindra & Mahindra, to companies like Exide Industries that create batteries for EVs, and even to businesses setting up EV charging stations like Power Grid Corporation of India.
We will also explore various facets of the EV industry, like the electric vehicle sector categories auto manufacturing, auto parts, battery manufacturing, and EV charging stations, offering an all-encompassing view of this booming sector. The aim is to guide readers in better understanding the EV market’s potential and choosing the right stocks for investment.
Best EV Stocks in India – Leading Vehicle Manufacturers
One of the most obvious ways to invest in the EV sector is to buy shares of the companies that produce electric vehicles. India has several prominent players in this category, such as:
Tata Motors
Tata Motors is one of the oldest and largest automobile manufacturers in India, with a market cap of Rs. 2,49,392.07 crore as of November 21, 2023. The company has a solid presence in the EV segment, with models like Tata Nexon EV, Tata Tigor EV, and Tata Altroz EV. Tata Motors also produces electric buses, such as the Tata Starbus and Tata Ultra.
The company has a strong R&D capability, with a dedicated EV innovation center in Pune. Tata Motors has also partnered with Tata Power to set up EV charging stations across India. The company’s stock price has grown by 51.8% in the last year, and 681.0% in the last three years.
Mahindra
Mahindra is another leading auto manufacturer in India, with a market cap of Rs. 1,70,245 crore as of November 21, 2023. The company has a diversified portfolio of EVs, including cars, three-wheelers, and commercial vehicles. Some of its popular EV models are Mahindra eVerito, Mahindra e2o, and Mahindra Treo.
Mahindra also owns a majority stake in Reva Electric Car Company, which is one of the pioneers of EVs in India. The company has invested heavily in EV technology, with a state-of-the-art EV plant in Bengaluru. Mahindra & Mahindra’s stock price has increased by 34.7% in the last year, and 170.0% in the last three years.
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Ashok Leyland
Ashok Leyland is one of the leading commercial vehicle manufacturers in India, with a market cap of Rs. 45,509 crore as of November 21, 2023. The company has a strong presence in the electric bus segment, with models like Ashok Leyland Circuit, Ashok Leyland eBuzz, and Ashok Leyland Oyster.
The company has also developed an innovative EV platform called Switch Mobility, which aims to offer smart mobility solutions for urban and rural areas. Ashok Leyland has collaborated with various state governments and private players to deploy its electric buses across India. The company’s stock price has risen by 15.4% in the last year, and 196.0% in the last three years.
Best EV Stocks in India – Leading Battery Manufacturers
Another way to invest in the EV sector is to buy shares of the companies that produce batteries for electric vehicles. Batteries are one of the most critical and costly components of EVs, and their performance, durability, and affordability determine the success of the EV industry. India has several prominent players in this category, such as:
Exide Industries
Exide Industries is one of the largest battery manufacturers in India, with a market cap of Rs. 23,965.75 crore as of November 21, 2023. The company has a diversified portfolio of batteries, catering to various segments like automotive, industrial, telecom, and solar.
The company has also ventured into the EV battery segment, with products like Exide Neo, Exide E-Ride, and Exide Eko. The company has set up a joint venture with Leclanché, a Swiss battery maker, to produce lithium-ion batteries for EVs in India. The company’s stock price has surged by 56.49% in the last year, and 1281.0% in the last three years.
Amara Raja Batteries
Amara Raja Batteries is another leading battery manufacturer in India, with a market cap of Rs. 10,944.81 crore as of November 21, 2023. The company has a wide range of batteries, serving various sectors like automotive, industrial, telecom, and UPS.
The company has also entered the EV battery segment, with products like Amaron Voltz, Amaron E-Volt, and Amaron E-Rick. The company has partnered with various EV manufacturers and fleet operators to supply its batteries for EVs in India. The company’s stock price has grown by 3.87% in the last year, and 7915.0% in the last three years.
Best EV Stocks in India – Leading EV Charging Station Providers
Another way to invest in the EV sector is to buy shares of the companies that provide EV charging stations. EV charging stations are essential for the adoption and convenience of EV users, as they enable them to recharge their vehicles on the go.
Power Grid Corporation of India
Power Grid Corporation of India is one of the largest power transmission companies in India, with a market cap of Rs. 1,94,661.64 crore as of November 21, 2023. The company has a vast network of power transmission lines, substations, and grid management systems across India.
The company has also diversified into the EV charging station segment, with a vision to create a national EV charging infrastructure. The company has installed over 200 EV charging stations across various highways and cities in India, and plans to add more in the future. The company’s stock price has increased by 27.19% in the last year, and 436.0% in the last three years.
Tata Power
Tata Power is one of the largest power generation and distribution companies in India, with a market cap of Rs. 71,624 crore as of November 21, 2023. The company has a diversified portfolio of power sources, including thermal, hydro, solar, and wind.
The company has also expanded into the EV charging station segment, with an aim to provide a seamless and convenient EV charging experience to its customers. The company has set up over 500 EV charging stations across various cities in India, and plans to increase its network to over 700 by the end of 2023. The company’s stock price has risen by 0.6% in the last year, and 289.0% in the last three years.
Conclusion
The EV sector in India is witnessing a rapid growth, driven by various factors like supportive government policies, evolving consumer preferences, and technological innovations. Investing in this sector can offer attractive returns, as well as contribute to a greener and cleaner future.
However, investors should also be aware of the risks and challenges involved in the EV sector, such as high competition, regulatory uncertainties, and infrastructure gaps. Therefore, investors should do their own research and analysis before investing in any EV stock, and consult a financial advisor if needed.
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