Auto stocks witnessed a rise following the introduction of measures in the Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on 1st February, aimed at accelerating electric vehicle (EV) adoption and enhancing infrastructure.
In line with a commitment to climate-friendly development, the Finance Minister highlighted that the Manufacturing Mission would support Clean Tech manufacturing. This initiative is designed to improve domestic value addition and strengthen the ecosystem for solar PV cells, EV batteries, and more.
FM also announced the addition of 35 new capital goods for EV battery manufacturing and 28 additional capital goods for mobile phone battery manufacturing to the list of exempted capital goods. This move is expected to boost the domestic production of lithium-ion batteries for both mobile phones and electric vehicles (EVs).
Here are EV stocks that saw gains of up to 9 percent after the Finance Minister exempted from basic customs duty (BCD):
1. Hero MotoCorp Limited
With a market cap of Rs. 88,566.8 crores, the shares of the world’s largest manufacturer of motorcycles and scooters moved up nearly 4.2 percent on BSE to hit an intraday high at Rs. 4520.95, during the special trading session of Saturday.
Hero MotoCorp Limited, a leading two-wheeler manufacturer, is engaged in the business of manufacturing and selling of motorised two-wheelers, spare parts and related services.
2. Amara Raja Energy & Mobility Limited
With a market cap of Rs. 19,565.4 crores, the stock moved up nearly 6 percent on BSE to hit an intraday high at Rs. 1,093.6, during the special trading session of Saturday.
The company is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
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3. Maruti Suzuki India Limited
With a market cap of Rs. 4.05 lakh crores, the stock moved up nearly 7 percent on BSE to hit an intraday high at Rs. 13,140.25, during the special trading session of Saturday.
Maruti Suzuki India Limited is engaged in the manufacturing, purchase and sale of motor vehicles, components and spare parts, along with the facilitation of pre-owned car sales, fleet management and car financ
4. Hyundai Motor India Limited
With a market cap of Rs. 1.42 lakh crores, the stock moved up nearly 9 percent on BSE to hit an intraday high at Rs. 1829, during the special trading session of Saturday.
Hyundai Motor India Limited is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer in the world based on passenger vehicle sales.
The company offers a broad portfolio of 13 models, including sedans, hatchbacks, SUVs, and electric vehicles (EVs).
Written by Shivani Singh
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