The central government plans to offer up to 30 percent subsidies for manufacturing electric ambulances under the PM E-DRIVE scheme to promote local production. The scheme, which has an Rs. 500 crore allocation aims to incentivize early-stage developers. Subsidies will depend on battery capacity and will apply to patient transport, and basic, and advanced life support vehicles. The Ministry of Heavy Industries is collaborating with the Ministries of Health and Road Transport to set safety and performance standards. This initiative supports the country’s goal of introducing hybrid and electric ambulances, with the domestic industry expected to play a key role. Some Automobile stocks might benefit from this initiative.
Listed below are some of the stocks that might likely benefit from the 30% subsidy for local electric ambulance
Force Motors Ltd, established in 1958, is India’s largest van manufacturer and a fully vertically integrated automotive company. It designs, develops, and manufactures a diverse range of vehicles, including small commercial vehicles, multi-utility vehicles, and agricultural tractors. The company emphasizes in-house production of components and exports to various international markets.
With a market capitalization of Rs. 8,655 Crores, the shares of Force Motors Limited were trading at Rs. 6,640.95 per equity share, down 0.05 percent from its previous day’s close price of Rs. 6,644.50.
Its Revenue from operations increased by 7.7 percent from Rs. 1,802 Crore in Q2FY24 to Rs. 1,941 Crores in Q2FY25, accompanied by a profit of Rs. 94 Crores to Rs. 135 Crores.
Maruti Suzuki India Ltd, established in 1981 as a joint venture with Suzuki Motor Corporation, is the largest automobile manufacturer in India, specializing in small cars. Its business model includes manufacturing and selling a diverse range of vehicles, offering financing and insurance services, and operating a robust network for pre-owned car sales. The company dominates the Indian passenger car market with a significant market share.
With a market capitalization of Rs. 3,37,511.16 Crores, the shares of Maruti Suzuki India Limited were trading at Rs. 10,735 per equity share, down 0.80 percent from its previous day’s close price of Rs. 10,822.05.
Its Revenue from operations grew by 0.29 percent from Rs. 37,339 Crores in Q2FY24 to Rs. 37,449 Crores in Q2FY25, accompanied by profits of Rs. 3,786 Crores to Rs. 3,102 Crores.
Mahindra & Mahindra Ltd, founded in 1945, is a leading Indian multinational conglomerate based in Mumbai, operating in over 100 countries. Renowned for its automotive and agricultural machinery, it is the world’s largest tractor manufacturer by volume. The company focuses on innovation across diverse sectors, including automotive, aerospace, and technology services.
With a market capitalization of Rs. 3,64,857.58 Crores, the shares of Mahindra & Mahindra Limited were trading at Rs. 2,934.05 per equity share, up 0.74 percent from its previous day’s close price of Rs. 2,912.40.
Its Revenue from operations grew by 10.12 percent from Rs. 34,436 Crores in Q2FY24 to Rs. 37,924 Crores in Q2FY25, accompanied by a profit of Rs. 2,484 Crores to Rs. 3,361 Crores.
Written by Santhosh S
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