Best EV Stocks in India 2023

12 January 2023
8 min read

There are always new technologies emerging in the field of transportation. However, these alternative transportation technologies are based on electric vehicles, and many businesses have jumped on board to gain popularity before the industry makes a radical transition from conventional fossil fuels.

This transition can also be viewed as an effort by current companies to catch up to the standards set by Electric Vehicle (EV) companies such as Tesla before it's too late.

EV Stocks are unquestionably your hot bait if you're a real-time investor looking for a trustworthy industry to invest in going forward. The EV Stock boom in India will enable you to prosper financially even during the market's decline. So let's examine the Indian market for electric vehicles and the top EV Stocks in India that investors should be aware of here in this blog.

Best EV Stocks in India

Following are some of the best electric vehicle stocks India -

S.No. 

Best EV Stocks

1.

Reliance Industries Ltd.

2.

TVS Motor Company Ltd.

3.

Tata Motors Ltd.

4.

Indian Oil Corporation Ltd.

5.

Mahindra & Mahindra Ltd.

6.

Hindalco Industries Ltd.

Factors to Consider Before Investing in EV Related Stocks in India

Here are some of the most important factors to consider before deciding which EV stocks to buy -

  • Watch Out for the Industry Leaders

India's auto industry has experienced significant growth and is expected to continue experiencing exponential growth. As a result, investors must research the industry's trending businesses and the market competition to ensure high future returns while picking the best electric vehicle stocks India.

  • Thorough Investigation

Before investing in an Indian automaker, it is advised to conduct in-depth research. When investing in EV stocks, it's critical to comprehend the companies' potential for financial growth rather than basing your decision on historical data.

  • Check M&A’s (Mergers & Acquisitions) of A Company

The term "mergers and acquisitions" (M&A) refers to the consolidation of businesses or their critical financial assets through business-to-business financial transactions. For example, a business can completely buy out and absorb another, merge with it to form a new company, take over some or all of its critical assets, make a tender offer for its stock, or launch a hostile takeover. They are all M&A activities.

An investor must take these extensive fundamentals into account to compile a thorough analysis of where to park their investments in the market.

  • Verify Government Investment Activity

Electric vehicle stocks in India will probably determine the demand-supply balance in the Indian market. In addition, the national government has been heavily promoting EV drives, particularly for in-house manufacturing. As a result, in India, the demand for electric vehicles has significantly expanded.

Additionally, the industry is poised for development thanks to cooperation between the Indian government and automakers.

  • Remove Losing Stocks from Your Portfolio

A stock's eventual recovery from a steep decline cannot be predicted. Recognize that it is crucial to be realistic about what is possible and what is not in the stock market. Therefore, admit your error and sell the underperforming stock as soon as you realize it is part of your portfolio to stop further losses.

You may also want to know the Top Auto Stocks in India 2023

Performance Overview of 2023’s EV Stocks List

Here is a breakdown of the leading EV Sector Stocks in India-

1) Reliance Industries Ltd.

The Indian company Reliance Industries Limited is involved in the Oil to Chemicals (O2C), Oil and Gas, Retail, Digital Services, and Financial Services industries. The 02C segment comprises downstream manufacturing facilities, logistics and supply-chain infrastructure, aviation fuel, petrochemicals, fuel retailing through Reliance BP Mobility Limited, and bulk wholesale marketing.

Its assets include refinery off-gas crackers, aromatics, gasification, multi-feed, and gas crackers. Exploration, development, and production of natural gas and crude oil are part of the oil and gas segment. In addition, consumer retail and several related services are included in the retail segment.

Various digital services are provided under the "Digital Services" segment. In addition, the management and deployment of specific Company resources to multiple activities, such as non-banking financial services and insurance broking, are included in the Financial Services segment.

2) TVS Motor Company Ltd.

The production of motorcycles, scooters, mopeds, three-wheelers, parts and accessories is the business of TVS Motor Company Limited. Motorcycles made by the company include the TVS Raider, TVS Radeon, TVS StaR City +, and TVS Sport, as well as the Apache Series RTR, Apache RR 310, TVS Jupiter, TVS Scooty Pep+ etc. are some of the scooters it offers.

In addition, TVS XL 100 Win Edition, TVS XL 100 Comfort, TVS XL 100 Heavy Duty, TVS XL 100 Comfort iTouch Start, and TVS XL 100 Heavy Duty i-TouchStart are just a few of the company's moped models.

Some of its three-wheelers are TVS Kings. For example, TVS iQube is one of its electric vehicle models. In addition, customers can view the TVS Apache series motorcycles on the company's mobile app, TVS Augmented Reality Interactive Vehicle Experience (ARIVE), which provides comprehensive information about the vehicle and allows customers to book a test ride and place an order.

3) Tata Motors Ltd.

An international manufacturer of automobiles is Tata Motors Limited. A variety of cars, sports utility vehicles, trucks, buses, and defense vehicles are included in the company's varied portfolio. Automotive operations and other operations are among its segments.

Four reportable sub-segments make up its automotive segment: Tata Commercial Vehicles, which consists of small commercial vehicles (SCV) and pickup trucks, medium and heavy commercial vehicles, intermediate light commercial vehicles, and CV passenger vehicles made under the Tata and Daewoo brands; Tata Passenger Vehicles, which consists of utility vehicles and passenger cars produced under the Tata and Fiat brands; and Jaguar Land Rover, which includes cars made under the Jaguar and Land Rover brands.

Its operations include information technology (IT) services, machine tools, and factory automation solutions.

4) Indian Oil Corporation Ltd.

Indian Oil Corporation Limited is an India-based oil company. The Company's segments include Petroleum Products, Petrochemicals, and Other Business Activities.

Its Other Business Activities include gas, oil and gas exploration, explosives and cryogenic business, windmills, and solar power generation. Its business interests span the entire hydrocarbon value-chain ranging from refining, pipeline transportation, and marketing to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources, and globalization of downstream operations.

It has a network of fuel stations, bulk storage terminals, inland depots, aviation fuel stations, liquefied petroleum gas (LPG) bottling plants, and lube blending plants. It also has set up approximately 257 electric vehicle (EV) charging stations and 29 battery swapping stations at its energy pumps across the country. In addition, it owns and operates about nine refineries across India.

5) Mahindra & Mahindra Ltd.

Mahindra and Mahindra Limited is an India-based company primarily engaged in mobility products and farm solutions. The Company's segments include Automotive and Farm Equipment.

The Automotive segment comprises the sale of automobiles, spares, mobility solutions, construction equipment and related services. The Farm Equipment segment includes the sale of tractors, implements, spares and associated services. It also consists of the Powerol and spares business unit.

The Company offers a range of products and solutions, including sport utility vehicles (SUVs), pickups, commercial vehicles and tractors, electric vehicles, two-wheelers, and construction equipment.

Its industries include aerospace, aftermarket, agribusiness, automotive, boats, clean energy, consulting, construction equipment, defense, farm equipment, hospitality, information technology, insurance broking, logistics, power backup, retail, steel, real estate, and infrastructure, and vehicle and equipment finance. It is often considered one of the most popular EV stocks India.

6) Hindalco Industries Ltd.

Hindalco Industries Limited is an India-based metal flagship company. The Company's Novelis segment represents Novelis Inc, a wholly owned foreign subsidiary engaged in producing and selling aluminium sheet and light gauge products, which operates in North America, South America, Europe, and Asia.

Its Aluminium segment represents the aluminium business of the Company, which includes Utkal Alumina International Limited (AIL), Hindalco Almex Aluminum Limited (HAAL), Suvas Holdings Limited (SHL), and Minerals and Minerals Limited (M&M).

Its Copper segment represents the copper business of the Company and Dahej Harbour and Infrastructure Limited, a wholly-owned subsidiary of the Company that operates a captive Jetty of the Company, and in the business of manufacturing and selling copper cathode, continuous cast copper rods, sulphuric acid, dap and complexes, gold, silver, and other precious metals. Its other segment represents other subsidiaries of the Company.

Conclusion

Finally, in terms of market growth, the pandemic has sparked a demand for goods that can help reduce the alarming pollution level, and electric vehicles are a remarkable way to cut emissions in the environment significantly and a step toward sustainable growth.

However, from an investment perspective, given the country's recessionary trend, it would be prudent to weigh the pros and cons to determine whether the country has the potential to meet the benchmark in question. If not, the numbers would only hold water on paper. As a result, it is recommended to invest cautiously and conduct thorough research before choosing electric vehicle related stocks in India and making a wise investment choice.

Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

To read the RA disclaimer, please click here
Research Analyst - Bavadharini KS

Disclaimer

The stocks mentioned in this article are not recommendations. Please conduct your own research and due diligence before investing. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.
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