As per the ICRA report, India faces challenges in establishing a battery cell manufacturing ecosystem, including technology complexity, high capital intensity, and raw material availability.
Battery recycling infrastructure is underdeveloped and over 150 GWh of Li-ion battery cell capacities are expected by 2030, with Rs. 75,000 crore investments committed through technology transfers and alliances.
Electric vehicle (EV) penetration is expected to surge over the next five years, with batteries accounting for 35 to 40 percent of EV costs. While China dominates the global Li-ion battery market. The Indian Li-ion battery projects face high risks due to cost overruns, dependence on imports for raw materials, and geopolitical risks.
Domestic demand for Li-ion batteries in India is expected to reach 11 to 13 GWh by FY25 and 60 to 65 GWh by FY30 as per the report.
Listed below are some of the stocks to benefit from Li-ion battery cell demand expected to reach 65 GWh by 2030.
Neogen Chemicals Limited
Neogen Chemicals specializes in bromine and lithium-based specialty chemicals while producing a diverse range of organic and inorganic compounds for pharmaceuticals, agrochemicals, and engineering industries.
With a market capitalization of Rs. 4,658.08 Crores, the shares of Neogen Chemicals Limited were trading at Rs. 1,765.65 per equity share, down 0.17 percent from its previous day’s close price of Rs. 1,768.70.
Himadri Specialty Chemicals Limited
The company is one of the leading manufacturers of carbon materials and chemicals, focusing on coal tar derivatives and lithium-ion battery components for diverse industries globally.
With a market capitalization of Rs. 21,344.31 Crores, the shares of Himadri Specialty Chemicals Limited were trading at Rs. 426.35 per equity share, up 1.41 percent from its previous day’s close price of Rs. 426.35.
Advaith Energy Transitions Limited
This Ashish Kacholia stock provides solutions for power transmission, substations, and telecommunication infrastructure. The company also manufactures and supplies power transmission products and is diversifying into renewable energy.
With a market capitalization of Rs. 1,258.27 Crores, the shares of Advaith Energy Transitions Limited were trading at Rs. 1,165 per equity share, up 3.12 percent from its previous day’s close price of Rs. 1,129.75.
Amara Raja Energy & Mobility Limited
This Amara Raja Group company is a leading Indian manufacturer of lead-acid batteries for automotive and industrial applications, and it supplies to major OEMs and various sectors.
With a market capitalization of Rs. 19,233.22 Crores, the shares of Amara Raja Energy & Mobility Limited were trading at Rs. 1,050.85 per equity share, up 1.19 percent from its previous day’s close price of Rs. 1,038.50.
Ola Electric Mobility Limited
They are one of the Indian electric vehicle manufacturers that produces scooters and components like battery packs and motors. The company aims to lead the EV revolution globally.
With a market capitalization of Rs. 24,480.11 Crores, the shares of Ola Electric Mobility Limited were trading at Rs. 55.50 per equity share, up 7.43 percent from its previous day’s close price of Rs. 51.66.
Written by Santhosh S
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