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New Index: NSE Unveils India’s First Nifty EV & New Age Automotive Index

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In a significant move highlighting the rapid growth and potential of electric vehicles (EVs) in India, the National Stock Exchange of India (NSE) has introduced a groundbreaking index to monitor the performance of companies in the EV sector. This pioneering index called the Nifty EV & New Age Automotive Index, is the first of its kind in India and is designed to track the performance of companies involved in electric vehicle manufacturing, battery production, charging infrastructure, and other critical components of the EV ecosystem.

A Boost for India’s EV Industry

The launch of this index signifies the increasing importance of EVs in India. With the Indian government setting ambitious targets for EV adoption, the introduction of this index is expected to fuel the industry by making it easier for investors to track the performance of EV companies. This development marks a positive leap forward for the EV industry in India.

Companies in the Spotlight

A total of 33 companies are included in the Nifty EV & New Age Automotive Index. OEM companies like Mahindra & Mahindra Ltd. & Hero MotoCorp Ltd., as well as Samvardhana Motherson International Ltd., which is the largest the largest auto ancillary company in India by revenue. Additionally, battery makers such as Exide Industries Ltd. and IT Consulting firm KPIT Technologies Ltd. are all part of the index showcasing diverse companies that contribute to the emerging EV electric vehicle ecosystem.

A Key Benchmark for Investors

The Nifty EV & New Age Automotive Index is poised to become a key benchmark for asset managers and a reference index for passive funds such as Exchange Traded Funds (ETFs), index funds, and structured products. The index will be reconstituted semi-annually and rebalanced quarterly to ensure accuracy and relevance.

Simplifying Investment in EVs

This new index is set to simplify the investment process for individuals interested in investing in EV companies, potentially providing a significant influx of capital for the industry to grow. Moreover, the index will play a crucial role in educating investors about the potential of this innovative technology.

The Future of EV Investment

The introduction of the Nifty EV & New Age Automotive Index marks a new era for EV investments in India. As the EV industry continues to evolve and grow, this index will provide investors with a vital tool to track performance, make informed decisions, and contribute to the industry’s future success.

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Naveen K R

Senior Director, Windmill Capital | The content in this article is purely the author’s personal opinion and is for informational and educational purposes only. It should not be construed as professional financial advice and nor to be construed as an offer to buy /sell or the solicitation of an offer to buy / sell any security or financial products. The views and opinions stated in the content belong to the author. Windmill Capital Private Limited does not uphold nor promote any of the views / opinions. | Windmill Capital Private Limited is a SEBI registered research analyst (Regn. No. INH200007645)

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