NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE) of India on 30 May launched the Nifty EV & New Age Automotive Index a new thematic index.
The index is designed to track the performance of companies involved in the electric vehicle (EV) ecosystem or those engaged in the development of new-age automotive vehicles and related technologies.
Moreover, the index aims to serve as a benchmark for asset managers and a reference index for passive investment funds such as Exchange Traded Funds (ETFs), index funds, and structured products. It provides investors with an opportunity to gain exposure to the rapidly growing EV and new-age automotive sectors in India.
The base date for the index is April 02, 2018, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced quarterly.
Furthermore, the stocks forming a part of the Nifty 500 are eligible to be a part of the index provided they are involved in the production and supply of electric or new-age automotive vehicles, batteries, components, raw materials, and technology
The overall weight of the stocks belonging to the Group A (Manufacturing of 2W/3W/4W/PV/CV Electric and New age automotive vehicles) shall be capped at 40 percent.
Listed below are the top stocks across the EV segments that are part of the Nifty EV & New Age Automotive:
Bajaj Auto Ltd
With a market capitalization of Rs. 2,49,624 crores, the shares of two-wheeler and three-wheeler manufacturing company started Friday’s trading session on a higher note at Rs. 8,990 compared to its previous close of Rs. 8,968.50. During the trading session, the shares hit a high of Rs. 9,035, gaining around 1 percent and are currently trading at Rs. 8,933 apiece.
Looking at the company’s financial statements, the revenue decreased by 5 percent from Rs. 11,892 crores during the December quarter to Rs. 11,249 crores in the March quarter. On the other hand, the net profits declined marginally by 1 percent from Rs. 2,032.62 crores to Rs. 2,011.43 crores during the same period.
Tata Motors Ltd
With a market capitalization of Rs. 3,40,228 crores, the shares global automobile manufacturer started Friday’s trading session on a higher note at Rs. 931.65 compared to its previous close of Rs. 923.95. During the trading session, the shares hit a high of Rs. 937, gaining around 1 percent and are currently trading at Rs. 928 apiece.
Coming onto the company’s financial statements, the revenue increased by around 9 percent from Rs. 1,09,799 crores during the December quarter to Rs. 1,19,213 crores in the March quarter. In addition, the net profits magnified by 152 from Rs. 6,952.17 crores to Rs. 17,528 crores during the same timeframe.
Exide Industries Ltd
With a market capitalization of Rs. 42,385 crores, the shares of the battery manufacturing company started Friday’s company on a higher note at Rs. 501 compared to its previous close of Rs. 497.95. During the trading session, the shares hit a high of Rs. 511.95, gaining around 1 percent and are currently trading at Rs. 499 apiece.
Coming onto the company’s financial statements, the revenue increased by 5 percent from Rs. 3,979.83 crores during Q3FY24 to Rs. 4,172.9 crores in Q4FY24. On a contrasting note, the net profits decreased by 8 percent from Rs. 202.69 crores to Rs. 185.7 crores during the same period.
Samvardhana Motherson International Ltd
With a market capitalization of Rs. 1,03,611 crores, the shares of auto ancillary stock started Friday’s trading session on a higher note at Rs. 154.45 compared to its previous close of Rs. 151.70. During the trading session, the shares hit a high of Rs. 156.95, gaining around 2 percent and are currently trading at Rs. 152 apiece.
Looking at the company’s financial statements, the revenue increased by 5 percent from Rs. 25,456 crores during the December quarter to Rs. 26,748 crores in the March quarter. Additionally, the net profits magnified by 128 percent from Rs. 633.3 crores to Rs. 1,444 crores during the same period.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
