resr 5paisa Research Team 12th December 2022

World EV Day 2021- Best EV Stocks to Buy

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World EV Day is celebrated on 09th September. Electrical Vehicles (EV) do not use the traditional fossil fuels like petrol and diesel. Instead, they use batteries to power their vehicles, that are more environment friendly and have a more acceptable carbon footprint. They do not pollute the air or deplete the ozone layer as traditional fossil fuels do.

India may not have scaled its EV plans to the same level as China, but the government is serious about a long-term shift to zero-emission EVs. That entails the right ecosystem like availability of electrical vehicles, adequate charging points, ancillaries for EVs, manufacture of batteries etc. Here are companies that could emerge as key players in the EV shift.

•  Tata Motors (CMP Rs.298.40) – Tata Motors and Jaguar Land Rover are substantially electrifying their fleets. Tata’s Tigor and Nexon models are already EV leaders. It is the one auto company to bet big on EVs.

•  Hindalco (CMP Rs.463.25) – India’s premier aluminium manufacturer is also in the midst of deleveraging. Aluminium due to its light weight has great demand among EVs. It is likely to see exponential demand growth from the EV thrust.

•  Amara Raja Batteries (CMP Rs.720.05) – It has already invested in developing lithium-ion cells that are considered a lot more efficient for EVs. Amara Raja is one of the recipients to get this technology from ISRO.

•  Minda Corp (CMP Rs.123.50) – It is first of the auto component makers off the block supplying to EV manufacturers. It has already secured orders to supply mobility components for EVs. It is largely R&D driven and has a marquee EV client list.

•  Greaves Cotton (CMP Rs.141.45) – It announced a foray into the multi-brand EV retail segment and expects it to become a big contributor to top line and bottom line. It is the only multi-brand EV store and an extension of its high-end engine focus.
(Note: Above prices are closing NSE prices as on 09-Sep-2021)

These 5 stocks are indicative of the EV opportunity and the direct and indirect beneficiaries. It would be advisable to consult with your advisors before making any investments.

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