The National Stock Exchange (NSE) has unveiled India’s first index dedicated to tracking the performance of companies involved in the electric vehicle sector, including those working with hybrid and hydrogen technologies. This marks a significant step towards promoting investment in the burgeoning EV market.
The Nifty EV & New Age Automotive index comprises entities active in manufacturing and supplying electric or new-age vehicles, as well as components, batteries, raw materials, and technologies essential for this sector. Only companies from the Nifty 500 are considered eligible for inclusion in this innovative index.
Currently, the index features 33 prominent stocks. Among these are industry leaders such as Tata Motors, Maruti Suzuki, Mahindra, and Bajaj Auto. Additionally, companies like Exide Industries, Bosch, and Samvardhana Motherson International are also included, reflecting the diverse components of the new automotive technologies.
Potential future additions to the index could include emerging players in the EV space like Ola Technologies, Ather Energy, and Hyundai Motor India, highlighting the dynamic and evolving nature of this sector. This prospective inclusion would further expand the index’s scope and relevance.
The index was established with a base value of 1,000 starting from April 2, 2018. It undergoes semi-annual reconstitution and quarterly rebalancing to ensure it remains current with market developments and company performances within this rapidly advancing field.
