In the sphere of transportation, new technologies constantly emerge. However, these alternative transportation technologies are based on electric vehicles, and many corporations have rushed on board to acquire market share before the industry undertakes a major move away from conventional fossil fuels.
This move can also be interpreted as an endeavor by present corporations to catch up with Electric Vehicle (EV) startups like Tesla before it’s too late.
EV Stocks are certainly your hot bait if you are a current investor seeking a reliable industry to invest in for the future. The EV Stock growth in India will allow you to succeed financially despite the market downturn. So, let’s review the Indian electric vehicle market and the top EV stocks that investors should be aware of in this blog.
Best EV Stocks in India 2023
Following are some of the best electric vehicle stocks in India –
| S.No. | Best EV Stocks |
| 1. | Tata Motors Ltd. |
| 2. | TVS Motor Company Ltd. |
| 3. | Mahindra & Mahindra Ltd. |
| 4. | Reliance Industries Ltd. |
| 5. | Indian Oil Corporation Ltd. |
| 6. | Hindalco Industries Ltd. |
Considerations Prior to Investing in EV-Related Stocks in India
Before determining which EV stocks to purchase, here are some of the most crucial considerations.
- Be Cautious of Industry Leaders
The automobile industry in India has undergone substantial growth and is projected to continue its exponential expansion. Consequently, when selecting the finest electric car stocks in India, investors must conduct research on the industry’s trending businesses and market competitiveness to assure high future returns.
- Extensive Research
Before investing in an Indian automobile, thorough research is recommended. When investing in EV stocks, it is crucial to understand the companies’ financial development potential rather than relying on previous statistics.
- Examine a company’s M&A (Mergers & Acquisitions)
M&A refers to the consolidation of firms or their key financial assets through business-to-business financial transactions. A corporation can, for instance, entirely acquire and absorb another, combine with it to form a new company, acquire some or all of its important assets, make a tender offer for its stock, or execute a hostile takeover. All of these are M&A activities.
To conduct a comprehensive examination of where to park their capital in the market, an investor must take into account these extensive facts.
- Validate Government Investment Efforts
Inventories of electric vehicles in India will likely define the demand-supply equilibrium on the Indian market. In addition, the federal government has been strongly pushing EV drives, especially for domestic production. As a result, the demand for electric vehicles in India has increased dramatically.
In addition, the industry is primed for growth due to the collaboration between the Indian government and automobile manufacturers.
- Remove Stocks That Are Underperforming From Your Portfolio
The eventual rebound of a stock following a dramatic collapse cannot be forecast. In the stock market, it is vital to be realistic about what is achievable and what is not. To prevent further losses, you should therefore recognize your error and sell the underperforming stock as soon as you realize it is part of your portfolio.
Performance Analysis of the EV Stocks List for 2023
Here is a list of the top EV Sector Stocks in India.
1. Tata Motors Ltd.
Tata Motors Limited is a worldwide auto manufacturer. Automobiles, SUVs, trucks, buses, and military vehicles are featured in the company’s portfolio of diverse products. Among its segments are automotive operations and additional operations.
Its automotive segment consists of four reportable subsegments: Tata Commercial Vehicles, which includes small commercial vehicles (SCV) and pickup trucks, medium and heavy commercial vehicles, intermediate light commercial vehicles, and CV passenger vehicles manufactured under the Tata and Daewoo brands; Tata Passenger Vehicles, which includes utility vehicles and passenger cars manufactured under the Tata and Fiat brands; and Jaguar Land Rover, which includes cars manufactured under the Jaguar and Land Rover brands.
It provides information technology (IT) services, machine tools, and factory automation systems as part of its operations.
2. TVS Motor Company Ltd.
TVS Motor Company Limited is a manufacturer of motorcycles, scooters, mopeds, three-wheelers, components, and accessories. The company’s motorcycles include the TVS Raider, TVS Radeon, TVS StaR City +, and TVS Sport, and its scooters include the Apache Series RTR, Apache RR 310, TVS Jupiter, TVS Scooty Pep+, etc.
In addition, the firm offers the TVS XL 100 Win Edition, TVS XL 100 Comfort, TVS XL 100 Heavy Duty, TVS XL 100 Comfort iTouchStart, and TVS XL 100 Heavy Duty i-TouchStart.
A number of its tricycles are TVS Kings. For instance, one of its electric vehicle models is the TVS iQube. In addition, buyers may view the TVS Apache series motorcycles on the company’s mobile app, TVS Augmented Reality Interactive Vehicle Experience (ARIVE), which provides detailed information about the vehicle and allows customers to schedule test rides and submit orders.
3. Mahindra & Mahindra Ltd.
Mahindra & Mahindra Limited is a corporation located in India that specializes in mobility products and agricultural solutions. Automotive and farm equipment are the segments of the Company.
The Automotive category includes the sale of vehicles, replacement parts, mobility solutions, construction equipment, and related services. The Farm Equipment category consists of the sale of tractors, implements, spare parts, and supplementary services. Additionally, it includes the Powerol and spares business segment.
The company provides a variety of products and services, including as sport utility vehicles (SUVs), pickups, commercial vehicles and tractors, electric vehicles, two-wheelers, and construction equipment.
Aerospace, aftermarket, agribusiness, automotive, boats, clean energy, consulting, construction equipment, defense, farm equipment, hospitality, information technology, insurance brokerage, logistics, power backup, retail, steel, real estate, and infrastructure, as well as vehicle and equipment financing, are among its industries. It is frequently regarded as one of India’s most popular EV stocks.
4. Reliance Industries Ltd.
Reliance Industries Limited is active in the industries of Oil to Chemicals (02C), Oil and Gas, Retail, Digital Services, and Financial Services. The 02C segment includes downstream manufacturing facilities, logistics and supply-chain infrastructure, aviation fuel, petrochemicals, fuel retailing through Reliance BP Mobility Limited, and wholesale bulk marketing.
Gas crackers, aromatics, gasification, multi-feed, and refinery off-gas crackers are its assets. The oil and gas segment includes natural gas and crude oil exploration, development, and production. In addition, the retail area includes consumer retail and various allied services.
The “Digital Services” section provides various digital services. In addition, the Financial Services section encompasses the management and deployment of specialized Company resources to different activities, such as non-banking financial services and insurance brokerage.
5. Indian Oil Corporation Ltd.
Indian Oil Corporation Limited is a petroleum corporation based in India. Petroleum Products, Petrochemicals, and Other Business Activities are the Company’s segments.
Other Business Activities include gas, oil, and gas exploration, explosives and cryogenics, windmills, and solar energy production. Its commercial activities include refining, pipeline transportation, and marketing in addition to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources, and globalization of downstream operations.
It possesses a network of gas stations, bulk storage terminals, inland depots, aviation fuel stations, liquefied petroleum gas (LPG) bottling factories, and lubricant blending plants. It has also installed around 257 electric vehicles (EV) charging stations and 29 battery switching stations across the country at its energy pumps. Additionally, it owns and runs approximately nine refineries in India.
6. Hindalco Industries Ltd.
Hindalco Industries Limited is India’s premier metal company. Novelis Inc., which operates in North America, South America, Europe, and Asia, is a wholly-owned overseas subsidiary of the Company involved in the production and sale of aluminum sheet and light gauge products.
This section includes Utkal Alumina International Limited (AIL), Hindalco Almex Aluminum Limited (HAAL), Suvas Holdings Limited (SHL), and Minerals and Minerals Limited (M&M).
Its Copper segment consists of the copper business of the Company and Dahej Harbour and Infrastructure Limited, a wholly-owned subsidiary of the Company that operates a captive Jetty of the Company, as well as the manufacturing and sale of copper cathode, continuous cast copper rods, sulphuric acid, dap and complexes, gold, silver, and other precious metals. This category represents the Company’s other subsidiaries.
Conclusion
Lastly, in terms of market growth, the pandemic has spurred a need for products that may aid in reducing the worrying pollution level. Electric vehicles are a remarkable approach to minimize emissions in the environment and a step toward sustainable growth.
Given the country’s recessionary trend, it would be advisable, from an investment standpoint, to balance the positives and drawbacks in order to determine whether the country has the potential to fulfill the aforementioned standard. Otherwise, the figures would only be valid on paper. Before buying electric vehicle-related companies in India and making a prudent investment decision, it is therefore prudent to invest with caution and undertake extensive research.
