The Indian government is considering a Rs. 9,000 crore scheme to boost local manufacturing of battery components for electric vehicles and clean energy systems. This plan follows discussions by the Union heavy industries ministry with industry leaders which aims to reduce reliance on imports and improve domestic production capabilities. The initiative focuses on manufacturing electrodes and other critical components, which are currently predominantly sourced from China. With these opportunities, there are some stocks that might benefit from this initiative.
Listed below are some of the stocks to benefit from the government may consider to roll out Rs. 9,000 crore for battery parts
Exide Industries
Exide Industries Limited, a leading manufacturer of lead-acid storage batteries, caters to the automotive and industrial sectors. They operate multiple manufacturing facilities across India and have expanded into lithium-ion battery production. Their business model focuses on innovation, extensive distribution networks, and strategic partnerships to meet domestic and international energy storage needs.
With a market capitalization of Rs. 39,355 Crores, the shares of Exide Industries Limited closed at Rs. 463 per equity share, up 2.15 percent from its previous day’s close price of Rs. 453.25.
Its Revenue from operations grew by 1.78 percent from Rs. 4,372 Crores in Q2FY24 to Rs. 4,450 Crores in Q2FY25, accompanied by profits of Rs. 270 Crores to Rs. 233 Crores.
Amara Raja Energy & Mobility
Amara Raja Energy & Mobility Limited, a part of the Amara Raja Group. It is a leading manufacturer of lead-acid batteries in India. They produce batteries for automotive and industrial applications while expanding into lithium-ion technology for electric vehicles. Their business model focuses on innovation, strategic partnerships, and a robust distribution network to meet domestic and international energy storage demands.
With a market capitalization of Rs. 24,354.27 Crores, the shares of Amara Raja Energy & Mobility Limited closed at Rs. 1,330.65 per equity share, up 0.25 percent from its previous day’s close price of Rs. 1,327.35.
Its Revenue from operations grew by 9.83 percent from Rs. 2,960 Crores in Q2FY24 to Rs. 3,251 Crores in Q2FY25, accompanied by profits of Rs. 238 Crores to Rs. 236 Crores.
Himadri Speciality Chemical
Himadri Speciality Chemical Limited is a leading manufacturer of carbon materials and chemicals in India. They focus on coal tar pitch and specialty carbon products. They operate multiple production facilities and serve diverse industries which include lithium-ion batteries and aluminum. Their business model focuses on innovation, sustainability, and expansion into new markets while maintaining a strong commitment to research and development.
With a market capitalization of Rs. 28,164.51 Crores, the shares of Himadri Speciality Chemical Limited closed at Rs. 570.50 per equity share, up 0.02 percent from its previous day’s close price of Rs. 570.40.
Its Revenue from operations grew by 13.13 percent from Rs. 1,005 Crores in Q2FY24 to Rs. 1,137 Crores in Q2FY25, accompanied by a profit of Rs. 101 Crores to Rs. 136 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. 42,277.80 Crores, the shares of Ola Electric Mobility Limited closed at Rs. 95.85 per equity share, down 2.69 percent from its previous day’s close price of Rs. 98.50.
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 Rs. 495 Crores.
Written by: Santhosh S
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