NSE Indices launches India's first electric vehicle index
Notable because
The launch of NSE's first EV & New Age Automotive index is timely as major E-2W players like Ola Electric and Ather Energy are preparing to launch IPOs. In FY24, national EV penetration reached 6.71% and continues to rise, highlighting the sector's potential. This index could further increase dedicated investments in the sector, foster growth among EV manufacturers, and serve as a crucial benchmark for investors tracking the performance of EV-related companies.
What to look out for in the months ahead
With 17 thematic sectoral equity indices currently at the NSE, how will the newly launched EV & New Age Automotive Index's performance compare to indices like Nifty Mobility, which has been tracking the mobility sector since its launch in December 2021? Will the focus on electric vehicles and new-age automotive technologies provide a competitive edge in terms of returns?