Trending electric vehicle stocks in India
Electric cars are gaining popularity in India. Alarming pollution rates and soaring fuel prices are pushing the mass adoption of electric vehicles, and hence EV stocks are the hottest trend. Finding the right one to ride the trend might be difficult since numerous firms have made a lot of money and their values have skyrocketed. When it comes to EVs, it is not just the automaker that is important, but also the industry that is made up of firms that specialise in their components. As a result, it is prudent to participate in the EV movement by purchasing a partnership with firms involved in the supply chain. It might be a corporation that manufactures lithium batteries, charging stations, associated parts, and other products. Because the business is young and developing quickly, investing intelligently in such companies may yield a substantial return.
Many names like Tata Motors and Ashok Leyland might be noticeable, but other businesses are displaying spectacular growth. Let's look at several trendy EV stocks that are affordable and can outperform your earnings forecasts.
1. GREAVES COTTON
Greaves Cotton manufactures engines and engine applications and trading power tillers, engine parts, electric cars, and infrastructure equipment.
GCL controls 60–65 per cent of the market for 3W diesel engines. GCL engines are supplied to over 30 Indian original equipment manufacturers (OEMs).
Market Capitalisation: Rs 3,731 Cr | ROE: 0.48 %
Investment Rationale: The debt of the firm has been reduced. The company is essentially debt-free
2. JBM AUTO
JBM Auto Ltd, among other things, manufactures and distributes sheet metal components, tools, dies, and moulds. In addition to handling bus repair contracts, it also produces buses and their replacement parts and accessories.
Automobile Components Segment: This division generates 75% of the company's revenue. This division produces automotive systems and high-level assembly. Chassis, suspension systems, axles, twist beams, lower control arms, subframes, exhaust systems, air tanks, fuel tanks, complete cowl assemblies, and pedal boxes are part of the product portfolio.
Market Capitalisation: Rs 2,372 Cr | ROE: 6.80 % | Stock P/E: 48.1
3. ASHOK LEYLAND
Ashok Leyland, the Hinduja group's firm has a lengthy history in the domestic medium and heavy commercial vehicle (M&HCV) sector. The firm has a strong brand reputation and a diverse distribution and service network throughout the country. It is one of the world's completely integrated manufacturing businesses, having a presence in 50 countries and headquarters in Chennai. They have handled over 8,00,000 drivers through their driving training institutions across India since their start. They debuted India's first electric bus and Euro 6 compliant cars in 2016. They are actively focusing on extending their electric vehicle line.
Market Capitalisation: Rs 36,210 Cr | ROE: 2.11 %
4. TATA MOTORS
Tata Motors is a world-renowned automobile manufacturer. It is a subsidiary of the famous Tata group, which manufactures a wide range of automobiles, sport utility vehicles, trucks, buses, and defence vehicles for customers all around the globe. It works through a global network of subsidiaries, associate businesses, and joint ventures (JVs) in many regions of the world.
Long-Term Strategy: Tata Motors and Jaguar Land Rover are both interested in electrifying their fleets. Tata Motors' Tigor EV and Nexon EV are the industry's top EV models in India right now. In 2020, it sold 2,600 electric vehicles, giving it a 63 per cent market share.
Market Capitalisation: Rs 107,356 Cr | ROE: 22.9 %
Investment Rationale: Promoter holdings have increased by 5.36 per cent in the previous quarter which is a positive indicator.
5. NATIONAL ALUMINIUM
National Aluminium Company Limited, abbreviated as NALCO, is a Navratna group "A" CPSE formed in 1981. NALCO is a company that manufactures and sells alumina and aluminium. According to Wood McKenzie, the firm is the world's lowest-cost producer of metallurgical grade alumina and the world's lowest-cost producer of bauxite. NALCO earns the majority of its revenues from alumina sales and is a minor participant in terms of aluminium capacity.
Market Capitalisation: Rs 15,611 Cr | ROE: 12.6 % | Stock P/E: 12.0
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