Electric vehicles are gaining widespread recognition in India. Alarming rates of emission and skyrocketing fuel prices are driving the adoption of electric vehicles among the masses and therefore EV stocks are the hottest trend.
When
it comes to EVs, it is not only the carmaker but the industry that is composed
of companies focused on its components. Therefore, it is advisable to play the
EV trend by buying the partnership in the companies involved in the supply
chain. Parking your funds
wisely in such companies could deliver a handsome return as the industry is
quite young and growing rapidly.
List
of best EV stocks to buy are listed below:
1). MINDA INDUSTRIES – CMP- Rs.794
Minda
Industries, incorporated in 1992, is engaged in the business of manufacturing
switches and batteries for 2/3 wheelers and off–road vehicles. The company is
the flagship company of the Minda Group. it commands more than 70% market share
in the 2/3 wheeler segment in India. Presently the company owns 8
state–of–the–art facilities located in India and Indonesia. The company has
workforce of more than 2800 people and a network of over 300 distributors
spread across country.
2). TATA POWER – CMP- Rs.223
Tata
Power Company Ltd is primarily involved in the business of the generation,
transmission and distribution of electricity. It aims to produce electricity
completely through renewable sources. It also manufactures solar roofs and
plans to build 1 lakh ev charging stations by 2025.
3). HBL
POWER SYSTEM – CMP- Rs.55
HBL's
first produced and successfully developed aircraft batteries, which led to the
company offering the world's widest range of specialised batteries. Their
knowledge of batteries generated opportunities and ideas for diversification.
The company expanded into new businesses and markets that relied upon its
batteries. Industrial electronics, defence electronics, and railway electronic
signalling are among the key markets that it serves.
4). TATA
MOTORS – CMP- Rs.498
Tata Motors Group is a leading global
automobile manufacturer. Part of the illustrious multi-national conglomerate,
the Tata group, it offers a wide and diverse portfolio of cars, sports utility
vehicles, trucks, buses and defence vehicles to the world.
It has operations in India, the UK,
South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong
global network of subsidiaries, associate companies and Joint Ventures (JVs),
including Jaguar Land Rover in the UK and Tata Daewoo in South Korea
5). JBM
AUTO – CMP- Rs.632
JBM
Auto Ltd manufactures and sells sheet metal components, tools, dies, and moulds
among other things. It also manufactures buses as well as their spare parts and
accessories over and above managing bus maintenance contracts.
Automobile
Components Segment: This division generates 75% of the company’s revenue. It
produces auto systems and high-level assemblies in this division. Its product
portfolio includes chassis and suspension systems, axles, twist beams, lower
control arms, sub frames, exhaust systems, air tanks, fuel tanks, entire cowl
assemblies, and pedal boxes, exhaust systems, air tanks, fuel tanks, complete
cowl assemblies and pedal boxes.
The
government has set a goal of achieving 100% electrification by 2030. Given the
early phases of adoption that we are currently in, this is a massive goal.
All
three-wheelers will be battery-powered by 2023, and the majority of
two-wheelers will be battery-powered by 2025. With the Indian government's
increased focus on green mobility, it's reasonable to expect the electric
vehicle industry to develop and India's electric vehicle fleet to expand.
Because of India's EV market's widespread acceptance and expansion, the year
2021 can be regarded the best time to invest in electric vehicle stocks in
India.
Very good one
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