Since the development of the wheel, transportation methods have undergone several changes. With the introduction of EVs, the automotive industry in India is undergoing a technical revolution. As a result, it appears to be a compelling prospect for investors who want to stake their money in the future of the car industry. Best Electric Vehicle Stocks that can boost the performance of your portfolio are covered in this post.
Electric Vehicle Stocks
Most of us associate the electric car industry with well-known automakers like Tata Motors or Mahindra Auto, but this industry is much broader than simply those two. Major sectors of the electric vehicle market include automakers, auto parts, EV software, battery manufacturers, EV charging stations, etc.
We’ve developed a comprehensive portfolio of some of the most exciting Indian Best Electric Vehicle Stocks to watch going forward based on this categorization.
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Best Electric Vehicles Stocks List
| Sr No | Stock Name | Current Stock Price (Rs) Dated |
| 1 | TATA Motors | 433.00 |
| 2 | Mahindra & Mahindra | 1,251.30 |
| 3 | Maruti Suzuki India Ltd | 9173.50 |
| 4 | Hero MotoCorp Limited | 2687.00 |
| 5 | Himadri Specialty Chemical Limited | 101.65 |
| 6 | Greaves Cotton | 167.40 |
| 7 | Motherson Sumi Systems Limited | 124.40 |
| 8 | TATA ELXSI Limited | 8,750.00 |
| 9 | Exide Industries Limited | 167.45 |
| 10 | Amara Raja Batteries Limited | 511.00 |
| 11 | TATA Chemicals Limited | 1,106.00 |
| 12 | TATA Power Company Limited | 236.70 |
| 13 | Power Grid Corporation of India Limited | 236.00 |
| 14 | National Thermal Power Corporation Limited (NTPC) | 173.65 |
| 15 | Indian Oil Corporation Limited (IOCL) | 69.80 |
Best Auto Manufacturers (EV) Stocks
TATA Motors
TATA Motors, one of the market’s pioneers, is the most diversified participant in the industry. The corporation is well-represented in every market, from four-wheeled passenger automobiles to large commercial vehicles like buses, trucks, and trailers. One of the top electric vehicle stocks in India is this one. Future growth at TATA Motors is highly anticipated, and it has already begun to manifest.
| Market Cap | Rs. 1,38,266.18 Cr. |
| P/E | 0 |
| P/B | 6.98 |
| Sales Growth | 7.06% |
Mahindra & Mahindra
Additionally, Mahindra & Mahindra has a strong presence in a variety of vehicle classes, including those for trucks, cars, and other commercial vehicles. With a variety of tractors, Mahindra has a history in the agricultural transport sector.
| Market Cap | Rs. 1,37,316.83 Cr |
| P/E | 27.82 |
| P/B | 3.52 |
| Sales Growth | -0.98% |
Maruti Suzuki India Ltd
When it comes to the market for affordable entry-level cars, Maruti Suzuki India is the top brand. The company holds the majority of the market share because it was the first in this niche. The only exception is that Maruti Suzuki has yet to enter the EV market, whereas the aforementioned firms have already advanced in it with their vehicles. As its first vehicle on the market, the business will introduce the WagonR, its best-selling vehicle, in an electric version.
| Market Cap | Rs. 2,60,696.60 Cr |
| P/E | 69.22 |
| P/B | 4.82 |
| Sales Growth | -6.98% |
Hero MotoCorp Limited
The small market for electric two-wheelers is being expanded by Hero MotoCorp. A strong lineup of established brands like Splendor, Passion Pro, and Hero Pleasure can work well in the Indian market, since two-wheelers are the most economical alternative of private transportation for anyone, providing the two-wheeler behemoth the first-mover advantage.
| Market Cap | Rs. 56,584.65 Cr |
| P/E | 22.88 |
| P/B | 3.59 |
| Sales Growth | 6.81% |
Himadri Specialty Chemical Limited
The business has a substantial position in the chemical sector, but it has recently stated that it will enter the EV market by producing electric bicycles.
| Market Cap | Rs. 3,075.86 Cr |
| P/E | 46.2 |
| P/B | 1.75 |
| Sales Growth | -6.88% |
Greaves Cotton
Greaves Cotton, a firm with a variety of businesses, has purchased the two-wheeler electric company Ampere Vehicles with the intention of joining the two-wheeler EV production market as the sector has a promising future.
| Market Cap | Rs. 3,535.96 Cr. |
| P/E | 130.58 |
| P/B | 3.8 |
| Sales Growth | -27.02% |
Auto Parts and EV Software Stocks
Motherson Sumi Systems Limited
One of India’s biggest suppliers of automotive components is Motherson Sumi. Due to its enormous production capacity, the company has previously acquired several small-scale auto parts producers and begun producing parts specifically for electric vehicles. Since an EV requires more parts than a typical car, Motherson Sumi’s venture is anticipated to grow over the next years, benefiting the business. Additionally, the business is in discussions to provide EV-specific parts to its various customers in the future.
| Market Cap | Rs. 24,568.73 Cr |
| P/E | 59.83 |
| P/B | 22.04 |
| Sales Growth | 0 |
TATA ELXSI Limited
TATA ELXSI is an IT-based software development business that specialises in creating software for TATA Motors’ electric vehicles. In addition, the business has created generic software that may be used by all-electric vehicles. In the future, ELXSI is anticipated to offer licensing for this specially created software to other automakers.
| Market Cap | Rs. 49,658.30 Cr |
| P/E | 90.34 |
| P/B | 31.02 |
| Sales Growth | 13.44% |
Top Battery Manufacturing Stocks
Exide Industries Limited & Amara Raja Batteries Limited
These two businesses are significant players in the battery market. They have been producing lead-based batteries for conventional automobiles up until this point. However, they are currently moving in the direction of producing lithium-ion batteries, which are a crucial part of an electric car.
| Market Cap | Rs. 12,053 Cr. |
| P/E | 2.57 |
| P/B | 1.14 |
| Sales Growth | 1.87% |
TATA Chemicals Limited
Compared to its competitors, Tata Chemicals has a unique vision. The business wants to create an ecosystem for battery production. They want to collect the raw ingredients for making batteries, make the batteries in their production facilities, and eventually have a way to recycle the old batteries.
The partnership with its family business TATA Motors would validate the batteries produced by TATA Chemicals and increase their exposure on the home Indian market as well as the worldwide market under the names of its subsidiaries Land Rover and Jaguar.
| Market Cap | Rs. 20,715.51 Cr |
| P/E | 26.34 |
| P/B | 1.35 |
| Sales Growth | 2.69% |
Best EV Charging Stations Stocks
TATA Power Company Limited
As a provider of consumer energy, TATA Power is a well-established organisation. Due to the growing number of EV owners in India, TATA Power and TATA Motors have joined forces to build EV battery charging and switching stations around the nation. The company has started installing private charging stations at customers’ dwellings and accredited car service facilities in addition to public charging stations at various parking lots and shopping areas.
| Market Cap | Rs. 68,380.27 Cr |
| P/E | 21.04 |
| P/B | 6.29 |
| Sales Growth | -21.01% |
Power Grid Corporation of India Limited
a government-owned business that specialises in high-voltage transmission, grid management, and high-power electricity for sectors like telecommunications. The business is working to install charging stations across India. Due to its state ownership status, the business can anticipate future government contracts and agreements for the installation of PGCIL Charging Stations. As of April 2022, the share price of Power Grid Corp. was estimated to be between 210 and 229 dollars.
| Market Cap | Rs. 1,46,798.41 Cr |
| P/E | 8.33 |
| P/B | 1.93 |
| Sales Growth | 4.09% |
National Thermal Power Corporation Limited (NTPC)
One of India’s leading thermal power generation firms, NTPC, had just begun the shift to solar energy production. The company’s main activities included the manufacture and installation of solar panels and other solar-powered equipment. The state-owned power utility is moving towards EV power generation by way of setting up charging stations after seeing remarkable success in the solar energy sector. Additionally, according to reports, NTPC could introduce solar-powered EV charging stations in the future.
| Market Cap | Rs. 1,34,735.18 Cr |
| P/E | 9.1 |
| P/B | 1.05 |
| Sales Growth | 1.33% |
Indian Oil Corporation Limited (IOCL)
IOCL, the largest state-owned petrochemical corporation in India with the greatest market share in the present petroleum business, is a significant player in the gasoline and diesel industry. IOCL has taken a step toward the EV sector by installing charging stations at its petrol pumps across India, despite the fact that the EV industry poses a significant threat to the company and its operations.
| Market Cap | Rs. 1,02,520.19 Cr |
| P/E | 4.24 |
| P/B | 0.75 |
| Sales Growth | -21.37% |
There are apparent concerns among the country’s citizens over everything new. However, if the aforementioned companies make it through the changeover, the shares have a good chance of doing well after EVs are introduced in India. So, it’s essential to keep an eye on the Best Electric Vehicle Stocks mentioned above as well as others.
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