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India’s electric vehicle market is growing fast, and a lot of investors are looking to make money from the rising demand for cleaner, eco-friendly cars. With the government pushing for sustainable energy and less pollution, more people are choosing electric vehicles over regular ones.
This shift is creating big opportunities for businesses, and some stocks are standing out as great options for investors who want to be part of this exciting change. Here are some of the best stocks to buy in India’s electric vehicle market:
Tata Motors is one of India’s biggest car companies, and it’s leading the charge in the EV market. The company already has popular electric cars like the Nexon EV and Tigor EV. Tata Motors is putting a lot of money into making more EVs, improving battery technology, and building more charging stations. With government support through schemes like FAME, Tata Motors is likely to see a lot of growth as more people buy electric cars.
CMP: 691.20
Market Capitalization: 2.54L Cr
P/E ratio: 6.06
Dividend Yield: 0.43%
52-week high: 1,179.00
52-week low: 667.05
Mahindra & Mahindra is also making big moves in the EV space, especially with its electric SUVs like the e2o Plus and eVerito. Mahindra is expanding its range of electric vehicles, not just for personal use but also for commercial use, which will help it grow even more. The government’s push for electric vehicles, including electric commercial vehicles, makes Mahindra a good stock to watch.
CMP: 2,835.45
Market Capitalization: 3.40L Cr
P/E ratio: 25.62
Dividend Yield: 0.74%
52-week high: 3,270.95
52-week low: 1,788.80
Bajaj Auto, known for its motorcycles and three-wheelers, is entering the electric vehicle market with its electric scooter, the Chetak EV. Electric two-wheelers are becoming more popular because they’re cheaper to run and easier to use. Bajaj’s early entry into this market could give it a strong advantage as cities like Delhi and Mumbai adopt more electric two-wheelers.
CMP: 8,609.55
Market Capitalization: 2.40L Cr
P/E ratio: 32.00
Dividend Yield: 0.93%
52-week high: 12,774.00
52-week low: 7,890.00
Exide Industries is a major name in the battery business. Since batteries are a key part of electric vehicles, Exide is in a great position to benefit from the growth of the EV market. The company is investing in new types of batteries and forming partnerships with car makers. As EVs become more popular, Exide is likely to see a rise in demand for its batteries.
CMP: 372.85
Market Capitalization: 31.69K Cr
P/E ratio: 39.99
Dividend Yield: 0.54%
52-week high: 620.35
52-week low: 290.35
Tata Power is helping to make electric vehicles more practical by building charging stations across India. This is a key part of the EV ecosystem, as more charging stations are needed to make electric cars viable for the average person. Tata Power is also focusing on renewable energy, like solar and wind power, which is a good fit with the growing EV market. As India pushes for cleaner energy, Tata Power is an attractive long-term investment.
CMP: 372.85
Market Capitalization: 1.14L Cr
P/E ratio: 29.96
Dividend Yield: 0.56%
52-week high: 494.85
52-week low: 326.35
JBM Auto is working on electric buses, which are becoming more common in India’s big cities. With more people moving to cities, the demand for clean public transport is increasing. JBM Auto is partnering with local governments to supply electric buses, which positions it well for growth in this sector.
CMP: 619.65
Market Capitalization: 14.66K Cr
P/E ratio: 76.63
Dividend Yield: 0.12%
52-week high: 1,207.12
52-week low: 557.00
Motherson Sumi is a major supplier of electrical parts and wiring systems for vehicles, including electric cars. As the demand for EVs rises, Motherson Sumi’s business will likely grow too. The company’s global reach and focus on providing parts for electric vehicles make it a good choice for investors who want to be part of the EV supply chain.
CMP: 131.57
Market Capitalization: 92.66K Cr
P/E ratio: 21.76
Dividend Yield: 0.61%
52-week high: 216.99
52-week low: 107.50
The electric vehicle market in India is growing fast, and many companies are working to meet the demand for eco-friendly cars. Tata Motors, Mahindra & Mahindra, Bajaj Auto, Exide Industries, Tata Power, JBM Auto, and Motherson Sumi are all well-positioned to benefit from this trend. For investors looking to make the most of this growth, these companies offer promising opportunities. However, it’s important to remember that, like any new industry, there are risks, so investors should be careful before making any decisions.
