Andhra Pradesh has launched the Sustainable Electric Mobility Policy (2024-29) to position itself as a hub for electric vehicle (EV) manufacturing. This five-year initiative aims to attract private investments, improve urban mobility, and reduce transportation emissions.
This policy encourages the establishment of EV manufacturing units and charging infrastructure while offering financial incentives such as investment subsidies, power cost reimbursements, and training support. They set ambitious targets for EV registrations of at least 2 lakh 2W, 10,000 3W, and 20,000 4W battery electric vehicles and aim for complete electrification of the Andhra Pradesh State Road Transport Corporation (APSTRC) fleet.
They planned to keep charging stations for every 30 km along with green corridors and one per 3×3 km grid in designated e-mobility cities and plan to allocate Rs. 500 crore for developing e-mobility cities and incubating startups in the sector.
Listed below are some of the stocks to benefit from the Andhra government’s electric mobility policy by 2029
Olectra Greentech is a prominent player in the electric vehicle (EV) sector, specializing in manufacturing electric buses and vehicles. Their business model focuses on producing eco-friendly transportation solutions while promoting sustainable urban mobility. Olectra partners with government entities and private firms to improve EV infrastructure, aiming to reduce emissions and support India’s transition to electric mobility.
With a market capitalization of Rs. 12,615 Crores, the shares of Olectra Greentech Limited were trading at Rs. 1,537 per equity share, down 1.76 percent from its previous day’s close price of Rs. 1,564.40.
Its Revenue from operations grew by 70 percent from Rs. 307 Crores in Q2FY24 to Rs. 524 Crores in Q2FY25, accompanied by profits of Rs. 19 Crores to Rs. 48 Crores.
JBM Auto is a leading manufacturer in the automotive sector, focusing on electric vehicles (EVs), buses, and components. Their business model focuses on sustainable mobility solutions, catering to both public and private transport sectors. JBM Auto leverages advanced technology and strategic partnerships to innovate and expand its product offerings, aiming to improve urban transportation while reducing environmental impact.
With a market capitalization of Rs. 20,838.69 Crores, the shares of JBM Auto Limited were trading at Rs. 1,691 per equity share, down 3 percent from its previous day’s close price of Rs. 1,743.25.
Its Revenue from operations grew by 4.46 percent from Rs. 1,231 Crores in Q2FY24 to Rs. 1,286 Crores in Q2FY25, accompanied by profits of Rs. 49 Crores to Rs. 53 Crores.
Tata Motors is a leading global automobile manufacturer, known for its diverse range of vehicles, including passenger cars, trucks, and electric vehicles (EVs). The company’s business model focuses on innovation, sustainability, and customer-centric solutions. Tata Motors invests in advanced technologies and strategic partnerships to enhance product offerings and expand its market presence.
With a market capitalization of Rs. 2,82,288 Crores, the shares of Tata Motors Limited were trading at Rs. 766.85 per equity share, down 1.6 percent from its previous day’s close price of Rs. 779.35.
Its Revenue from operations declined by 3.5 percent from Rs. 1,05,129 Crores in Q2FY24 to Rs. 1,01,450 Crores in Q2FY25, accompanied by a profit of Rs. 3,832 Crores to Rs. 3,450 Crores.
Ola Electric Mobility
Ola Electric Mobility was founded in 2017 and is an Indian electric vehicle manufacturer focused on producing electric scooters and core components like battery packs and motors. Their business model focuses on vertical integration through in-house R&D, adaptable manufacturing, and a direct-to-consumer distribution network, aimed to accelerate sustainable transportation solutions in India and beyond.
With a market capitalization of Rs. 42,200 Crores, the shares of Ola Electric Mobility Limited were trading at Rs. 95.67 per equity share, down 1.8 percent from its previous day’s close price of Rs. 97.40.
Its Revenue from operations grew by 39 percent from Rs. 873 Crores in Q2FY24 to Rs. 1,214 Crores in Q2FY25, accompanied by a loss of Rs. 524 Crores to a loss ofRs. 495 Crores.
Tube Investments of India (Montra Electric)
Tube Investments of India is a diversified company engaged in manufacturing and supplying a wide range of products, including tubes, bicycles, and automotive components. Their business model focuses on innovation and sustainability, serving various sectors such as automotive, industrial, and consumer goods.
With a market capitalization of Rs. 71,012 Crores, the shares of Tube Investments of India Limited were trading at Rs. 3,670 per equity share, down 0.92 percent from its previous day’s close price of Rs. 3,704.75.
Its Revenue from operations grew by 14.37 percent from Rs. 4,306 Crores in Q2FY24 to Rs. 4,925 Crores in Q2FY25, accompanied by a profit of Rs. 346 Crores to Rs. 299 Crores.
Written by: Santhosh S
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