[TusharK]

The National Stock Exchange (NSE) has launched India’s first index to track the performance of companies that produce electric vehicles and those based on hybrid and hydrogen tech.



The new Nifty EV & New Age Automotive index includes companies involved in the production and supply of electric or new-age automotive vehicles, batteries, components, raw materials and technology. Stocks that are part of the Nifty 500 index are eligible to be part of this.

Currently, the Nifty EV & New Age Automotive index includes 33 stocks, including Tata Motors, Maruti Suzuki, Mahindra, Bajaj Auto, Exide Industries, Bosch, Samvardhana Motherson International, Eicher Motors, CG Power and Industrial Solutions and Himadri Speciality Chemical. Companies like Ola Technologies, Ather Energy and Hyundai Motor India could be listed on this index in the future.

The base date for the index will be April 2, 2018, and the base value is 1,000. The index will be reconstituted semi-annually and rebalanced quarterly.

Source: Autocar India

Link to Team-BHP News

[warrioraks]

Originally Posted by TusharK

The new Nifty EV & New Age Automotive index includes companies involved in the production and supply of electric or new-age automotive vehicles, batteries, components, raw materials and technology. Stocks that are part of the Nifty 500 index are eligible to be part of this.

Currently, the Nifty EV & New Age Automotive index includes 33 stocks, including Tata Motors, Maruti Suzuki, Mahindra, Bajaj Auto, Exide Industries, Bosch, Samvardhana Motherson International, Eicher Motors, CG Power and Industrial Solutions and Himadri Speciality Chemical. Companies like Ola Technologies, Ather Energy and Hyundai Motor India could be listed on this index in the future.

I fail to see how this is any different from NIFTY AUTO Index. With most OEMs and their suppliers already into EVs, this is just an old wine in a new bottle.

[SmartCat]

Originally Posted by warrioraks

I fail to see how this is any different from NIFTY AUTO Index. With most OEMs and their suppliers already into EVs, this is just an old wine in a new bottle.

hehe. NSE jumping on the latest bandwagon. Here is the sector breakdown of NIFTY EV index:



Instead, NSE should have made an index for EVs, lithium mining/batteries, solar energy & wind energy

[warrioraks]

Originally Posted by SmartCat

Instead, NSE should have made an index for EVs, lithium mining/batteries, solar energy & wind energy

Yes absolutely. Add few companies from water management category (VA Tech, Ion Exchange as examples) and we have an index that plays right into the theme of climate change and sustainability.

[vij]

Originally Posted by warrioraks

I fail to see how this is any different from NIFTY AUTO Index. With most OEMs and their suppliers already into EVs, this is just an old wine in a new bottle.

Yes. Similar to BankNifty and FinNifty