Jun 15, 2023
By: Katya Naidu
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In the month of May, the sales of electric vehicles accounted for 8 percent of total vehicle sales. While legacy auto players like M&M, Tata Motors, and Hero Motocorp are already in the business of selling EVs, a lot of mid-cap companies are also venturing into the EV space.
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Battery manufacturers, companies that are involved with setting up the much-needed electric charging points and more – have all been gaining ground in the last one year. Here are India’s top five EV stocks.
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The company is one of India’s largest battery companies with presence across inverters, automotive batteries and industrial batteries. It also offers solar solutions and manufactures electric three-wheelers – which is one of the fastest growing segments within EVs.
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The stock has a market capitalisation of 17,535 crore rupees and has given 45 percent returns in the last one year.
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The Andhra Pradesh-based battery maker has plans to enter the big leagues by building a gigafactory in the next five to eight years, and is working towards improving Lithium-ion cells.
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Amara Raja, which has a market cap of 10,679 crore rupees, gave returns of 30 percent in the last one year.
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The company, which manufactures electric buses, has a market cap of 7,463 crore rupees and gave 37 percent returns in the last one year.
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The state-owned power transmission and distribution company is also setting up EV charging stations. It has a market cap of 1.69 lakh crore rupees, but gave only 8.5 percent returns in the last one year.
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The Tata group company is one of India’s largest soda ash manufacturers and has also ventured into providing crucial components to EV makers. It has a market cap of 25,451 crore rupees and gave 9 percent returns in the last one year.
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