Best EV Stocks In India – Electric Vehicle Stocks 2024

The table below shows the Best EV Stocks In India based on Market Capitalization.

Introduction to Electric Vehicle Share List

Mahindra and Mahindra Ltd

The Market Cap of Mahindra and Mahindra Ltd is Rs. 3,26,993.31 crores. The stock’s monthly return is -12.10%. Its one-year return is 93.71%. The stock is 94.32% away from its 52-week high.

Mahindra and Mahindra Ltd is a leading Indian multinational company primarily involved in automotive manufacturing and agriculture equipment. Established in 1945, it is known for producing SUVs, commercial vehicles and tractors and has expanded into IT, finance and hospitality.

The company is recognized for its innovation in electric vehicles and sustainable mobility solutions. It operates globally with a strong presence in markets like the USA, South Africa and Australia. Mahindra’s diverse portfolio contributes significantly to India’s industrial growth.

Tata Motors Ltd

The Market Cap of Tata Motors Ltd is Rs. 3,06,943.74 crores. The stock’s monthly return is -14.59%. Its one-year return is 34.37%. The stock is 34.67% away from its 52-week high.

Tata Motors Ltd is a leading Indian automotive manufacturer and part of the Tata Group. Established in 1945, it produces a wide range of vehicles, including cars, trucks, buses and defence vehicles, with operations in over 125 countries.

The company is recognized for its innovation in electric vehicles and sustainable technologies. Tata Motors’ acquisition of Jaguar Land Rover has expanded its global footprint, making it a key player in the premium vehicle segment. It continues to drive India’s automotive industry forward.

Vedanta Ltd

The Market Cap of Vedanta Ltd is Rs. 1,81,125.30 crores. The stock’s monthly return is -9.10%. Its one-year return is 108.87%. The stock is 116.07% away from its 52-week high.

Vedanta Ltd is a leading diversified natural resources company in India, engaged in the mining and processing of zinc, oil and gas, aluminium, iron ore, copper and power generation. Founded in 1976, it plays a vital role in India’s industrial growth.

The company has a strong global presence, with operations in India, South Africa, Namibia and Australia. Vedanta is committed to sustainable practices, focusing on minimizing environmental impact while contributing significantly to India’s economic and infrastructure development.

Hindalco Industries Ltd

The Market Cap of Hindalco Industries Ltd is Rs. 1,46,682.97 crores. The stock’s monthly return is -9.38%. Its one-year return is 49.32%. The stock is 51.51% away from its 52-week high.

Hindalco Industries Ltd is a flagship company of the Aditya Birla Group and a global leader in aluminium and copper production. Established in 1958, it operates across 10 countries, serving industries like automotive, construction and packaging.

The company is renowned for its commitment to sustainability and innovation, producing lightweight, eco-friendly materials. Hindalco’s acquisition of Novelis has strengthened its position as the world’s largest aluminium rolling company, contributing significantly to India’s industrial and infrastructure growth.

Hero MotoCorp Ltd

The Market Cap of Hero MotoCorp Ltd is Rs. 99,758.53 crores. The stock’s monthly return is -13.22%. Its one-year return is 62.35%. The stock is 65.07% away from its 52-week high.

Hero MotoCorp Ltd is the world’s largest manufacturer of motorcycles and scooters, established in 1984. It holds a significant share of the Indian two-wheeler market, known for producing reliable and fuel-efficient bikes like Splendor and Passion.

The company has a strong presence in over 40 countries, focusing on innovation and sustainability with a growing interest in electric vehicles. Hero MotoCorp plays a vital role in India’s mobility sector and continues to expand its global footprint.

NTPC Ltd

The Market Cap of NTPC Ltd is Rs. 3,95,680.00 crores. The stock’s monthly return is -8.65%. Its one-year return is 76.85%. The stock is 77.23% away from its 52-week high.

NTPC Ltd is India’s largest energy conglomerate, primarily focused on electricity generation. Established in 1975, it operates a diverse portfolio of coal, gas, hydro and renewable energy plants, contributing significantly to the nation’s power supply and energy security.

The company is committed to sustainable practices and aims to increase its renewable energy capacity significantly. NTPC’s initiatives in clean energy align with India’s commitment to reduce carbon emissions, positioning the company as a key player in the transition to a greener future.

Maruti Suzuki India Ltd

The Market Cap of Maruti Suzuki India Ltd is Rs. 3,48,167.74 crores. The stock’s monthly return is -16.32%. Its one-year return is 8.63%. The stock is 14.09% away from its 52-week high.

Maruti Suzuki India Ltd is the leading automobile manufacturer in India, known for its extensive range of cars and vehicles. Established in 1981, the company has played a pivotal role in making car ownership accessible to millions of Indians.

The company focuses on innovation and customer satisfaction, producing popular models like Alto, Swift and Baleno. With a strong emphasis on fuel efficiency and safety, Maruti Suzuki continues to dominate the Indian market while expanding its presence in electric vehicles.

Bajaj Auto Ltd

The Market Cap of Bajaj Auto Limited is Rs. 2,74,624.09 crores. The stock’s monthly return is -20.77%. Its one-year return is 84.79%. The stock is 86.87% away from its 52-week high.

Bajaj Auto Ltd is a prominent Indian automotive manufacturer, established in 1945. Known for its motorcycles, scooters and three-wheelers, the company has become a key player in both domestic and international markets, exporting vehicles to over 70 countries.

The company emphasizes innovation and sustainability, investing in electric mobility solutions and advanced technology. Bajaj Auto’s popular models, such as the Pulsar and Dominar, have solidified its reputation for performance and quality, driving growth in India’s two-wheeler segment.

TVS Motor Company Ltd

The Market Cap of TVS Motor Company Ltd is Rs. 1,18,358.19 crores. The stock’s monthly return is -12.27%. Its one-year return is 60.79%. The stock is 61.45% away from its 52-week high.

TVS Motor Company Ltd is one of India’s leading two-wheeler and three-wheeler manufacturers, established in 1978. The company is known for its diverse range of motorcycles, scooters and electric vehicles, catering to various customer preferences and market segments.

With a strong focus on innovation and sustainability, TVS Motor Company invests in research and development to enhance performance and fuel efficiency. Its popular models, such as Apache and Jupiter, have earned significant market recognition, contributing to the company’s growth both domestically and internationally.

Eicher Motors Ltd

The Market Cap of Eicher Motors Ltd is Rs. 1,34,112.81 crores. The stock’s monthly return is -2.77%. Its one-year return is 50.92%. The stock is 51.25% away from its 52-week high.

Eicher Motors Ltd is a prominent Indian automotive manufacturer, founded in 1982, known for its commercial vehicles and motorcycles. The company is the parent of Royal Enfield, a brand famous for its iconic motorcycles, blending heritage with modern technology.

Eicher Motors focuses on innovation, sustainability and quality, expanding its product offerings to meet diverse consumer needs. The company is also committed to enhancing its presence in the electric vehicle segment, aiming to contribute significantly to India’s automotive industry and sustainable mobility solutions.

What Are EV Stocks In India?

EV stocks in India represent shares of companies involved in the electric vehicle industry. These can include manufacturers of electric vehicles, battery producers and suppliers of essential EV components. Investing in such stocks allows investors to be part of the growing EV sector.

The rise of electric vehicles is driven by a global shift towards sustainable and eco-friendly transportation solutions. In India, government policies and environmental concerns are pushing for the adoption of electric vehicles, making EV stocks an attractive option for long-term growth.

As the demand for electric vehicles increases, companies that produce EVs or supply key technologies benefit from the expanding market. EV stocks, therefore, provide opportunities for investors to capitalize on the shift toward cleaner energy and green mobility.

Features Of EV-related Stocks In India.

The main features of EV-related stocks in India include strong growth potential, driven by the transition to clean energy and government policies supporting electric vehicle adoption. These stocks also tend to reflect innovation, sustainability and the integration of new technologies into the automotive sector.

• Growth Potential: EV-related stocks have high growth prospects as the demand for electric vehicles increases. The government’s push for electric mobility and growing environmental awareness among consumers fuel this growth, offering long-term investment opportunities.
• Innovation-driven: Companies in the EV sector are often at the forefront of technological advancements. Investments in research and development lead to better battery technology, charging infrastructure and overall vehicle performance, making EV-related stocks attractive for tech-forward investors.
• Sustainability Focus: EV-related stocks align with the global push for sustainability. As the world moves away from fossil fuels, these companies play a key role in creating environmentally friendly transportation solutions, making them appealing to socially conscious investors.
• Government Support: The Indian government offers incentives, subsidies and favourable policies to encourage the adoption of electric vehicles. These measures boost the growth of companies in the EV sector, enhancing their stock performance over time.

Top EV Stocks In India Based on 6-Month Return.

The table below shows a List of the Best EV Stocks In India based on 6 Month Return.

EV Stocks List Based on 5-Year Net Profit Margin

The table below shows the Best EV Stocks In India based on a 5-year Net Profit Margin.

EV Stocks List In India​ Based on 1M Return

The table below shows the Best EV Stocks in India Based on 1-Month Return.

High Dividend EV Sector Stocks In India

The table below shows the Best EV Stocks in India based on Dividend Yield.

Historical Performance of EV Sector Stocks In India

The table below shows the Historical Performance of Best EV Stocks in India based on Market Cap and 5Y Return.

Factors To Consider When Investing In the Best EV Stocks In India​

The main factors to consider when investing in the best EV stocks in India include market potential, government policies, technological advancements and company fundamentals. These factors help determine the growth prospects and risks associated with investing in electric vehicle-related stocks.

• Market Potential: Assess the overall demand for electric vehicles in India. As consumer preferences shift toward cleaner energy options, understanding the market’s growth rate and future potential is crucial in choosing the right EV stocks for investment.
• Government Policies: Favorable government policies, such as subsidies, incentives and regulations supporting electric vehicle adoption, can significantly impact the profitability of EV-related companies. Investors should evaluate policy trends to predict future stock performance.
• Technological Advancements: EV stocks are heavily influenced by innovations in battery technology, charging infrastructure and vehicle efficiency. Investing in companies that lead in R&D and technology integration can provide better long-term returns in the evolving EV market.
• Company Fundamentals: Review a company’s financial health, market share and profitability. Strong fundamentals, such as a healthy balance sheet, revenue growth and competitive advantage, are key indicators of a company’s ability to thrive in the expanding EV industry.

How To Invest In the Best EV Stocks In India?

To invest in the best EV stocks in India, start by researching potential companies in the electric vehicle sector. Evaluate their market potential, growth prospects and financial health to identify the most promising options.

Once you have selected stocks, create an account on a brokerage platform like Alice Blue. This user-friendly platform allows you to buy and sell shares easily, monitor your investments and access valuable research tools to inform your investment decisions.

Impact of Government Policies on Best EV Stocks In India

Government policies play a crucial role in shaping the electric vehicle (EV) market in India. Initiatives such as subsidies, tax incentives and infrastructure development significantly encourage the adoption of EVs, enhancing the growth prospects of companies involved in this sector.

Supportive regulations, such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, create a favourable environment for EV manufacturers. This governmental backing boosts investor confidence in EV stocks, driving demand and potentially leading to increased stock valuations in the long term.

How Best EV Stocks In India Perform In Economic Downturns?

During economic downturns, the best EV stocks in India may experience volatility as consumer spending declines. However, the growing emphasis on sustainable energy and government support can help mitigate some negative impacts, making these stocks resilient compared to traditional automotive stocks.

Additionally, companies with strong fundamentals and diversified product lines tend to weather economic challenges better. Innovations in technology and infrastructure improvements can sustain investor interest, allowing leading EV stocks to maintain a competitive edge even amid economic uncertainties.

Advantages Of Investing In The Best EV Stocks In India

The main advantages of investing in the best EV stocks in India include exposure to a rapidly growing market, potential government incentives, alignment with sustainability goals and innovation-driven growth. These factors collectively enhance the attractiveness of EV stocks for investors.

• Rapid Market Growth: The electric vehicle market in India is expanding quickly, driven by rising consumer demand for sustainable transportation. Investing in EV stocks allows investors to capitalize on this growth, potentially leading to substantial returns as adoption increases.
• Government Incentives: The Indian government offers various subsidies and incentives to promote electric vehicle adoption. These supportive policies can boost the financial performance of EV companies, providing a favourable environment for investment and enhancing stock value.
• Sustainability Alignment: Investing in EV stocks aligns with global sustainability goals, as electric vehicles contribute to reducing carbon emissions. This ethical investment approach appeals to socially conscious investors, making EV stocks a meaningful addition to their portfolios.
• Innovation and Technological Advancements: The EV sector is characterized by constant innovation, including advancements in battery technology and charging infrastructure. Investing in companies leading these developments can provide opportunities for significant long-term growth and enhanced competitiveness in the market.

Risks Of Investing In the Best EV Stocks In India

The main risks of investing in the best EV stocks in India include market volatility, regulatory changes, competition and technological challenges. These factors can impact stock performance and investor returns, necessitating thorough research and risk assessment before making investment decisions.

• Market Volatility: The EV sector can experience significant price fluctuations due to changing consumer preferences, economic conditions and investor sentiment. Such volatility can lead to unexpected losses, making it crucial for investors to be prepared for short-term market movements.
• Regulatory Changes: Government policies surrounding electric vehicles can change, impacting incentives and subsidies that support the industry. Sudden regulatory shifts may hinder growth prospects for EV companies, affecting their profitability and ultimately the performance of their stocks.
• Intense Competition: The EV market is becoming increasingly competitive, with numerous players entering the space. Established automakers and new startups alike are vying for market share, which can pressure profit margins and create challenges for companies trying to maintain a competitive edge.
• Technological Challenges: Rapid advancements in technology mean that companies must continually innovate to stay relevant. If a company fails to keep up with technological trends or cannot efficiently scale production, it may face declining market position and investor confidence.

EV Stocks In India’s GDP Contribution

EV stocks in India are increasingly contributing to the country’s GDP as the electric vehicle sector expands. This growth is driven by rising consumer demand, government incentives and investments in charging infrastructure, which together bolster the overall economic landscape.

As the EV market matures, companies involved in manufacturing, technology and supply chain logistics are becoming significant players in India’s economy. The transition to electric vehicles not only enhances GDP contribution but also supports job creation and fosters innovation across various sectors.

Who Should Invest In the Best EV Stocks In India?

Individuals who are environmentally conscious and want to support sustainable transportation initiatives should consider investing in the best EV stocks in India. This investment aligns with their values and helps contribute to a cleaner, greener future while potentially achieving financial returns.

Additionally, investors seeking growth opportunities in emerging markets may find EV stocks appealing. With the Indian government’s push for electric vehicles and the industry’s rapid expansion, these stocks offer the potential for significant returns, making them suitable for long-term investment strategies.

Top 10 EV penny Stocks In India – FAQs  

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Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.