World EV Day 2022: Top Electric Vehicle stocks to buy in India

World EV Day 2022, EV Stocks To Buy, EV Stocks In India: World EV Day 2022 is observed on September 9 to mark the celebration of e-mobility. Although the transition to EV is slower than predicted in India, it is sure that it will happen over time. Demand for electric vehicles is rising and companies are manufacturing EVs as they understand that EVs are alternatives to vehicles that run on conventional fuels.

World EV Day was first observed in 2020. The initiative was created by sustainability media company Green.TV. Initially, the EV campaign was largely restricted to social media platforms. But it has now become a mega event. Special awareness campaigns are organised to tell people about the benefits of EVs. 

Automotive companies see India as a market having huge potential for EVs. India's automotive industry is the fifth largest in the world and is poised to see massive demand in the coming years with companies making beelines to launch their new vehicles -- electric bikes or electric cars. Companies like Tata Motors, M&M and others are already making efforts to shift towards electric vehicles. 

Rachit Chawla, Founder & CEO, Finway FSC, said that with increasing demands of clean mobility and several facilitating government policies encouraging the growth of the EV sector, investing in EV stocks has certainly become hot bait. "Even while the market is volatile in 2022, the EV stocks have been booming and investments in these can help a real-time investor thrive in profits,” he said.

On the occasion of World EV Day, we will tell top EV stocks in India that could be a good investment bet in long term:

1. TATA MOTORS

Tata Motors is one of the oldest players in the segment. The Tata Group company manufactures a wide range of vehicles like SUVs, trucks and buses. The company has a strong global network. Tata Motors' Nexon EV was the best-selling electric car in India in 2021. The company has said that it is working on several parameters to bring down the cost.

Tata Motors share price 52-week high - Rs 536.70 | 52-week low - Rs 291.60

Tata Motors share price has delivered a stellar return of over 50 per cent in last one year. 

2. MAHINDRA & MAHINDRA

Mahindra & Mahindra is one of the top performers in Nifty50. The company has just unveiled XUV 400 EV in India. Earlier, the company had promised 5 e-SUVs under new brands in 2-4 years.

Rachit said that the company has emerged as one of the biggest players in the agricultural transport sector with a range of tractors. The company is set to invest around Rs 3000 crore in the EV sector in the next three years.

Mahindra & Mahindra share price has jumped from Rs 829.90 on January 3, the first trading session of 2022, to Rs 1320 on August 8. 

Mahindra & Mahindra share price 52-week high - Rs 1331.95 | 52-week low - Rs 671.15

Mahindra & Mahindra has delivered a whopping 60 per cent return in 2022.

3. ASHOK LEYLAND

Hinduja group flagship Ashok Leyland is a major player in the automotive industry. The bus recently unveiled a double-decker electric bus in Mumbai. The Chennai-headquartered company has already announced a $200 million investment through its UK-based arm Switch Mobility for electric mobility.

The company designs electric variants specifically for Indian roads. To address e-mobility needs, it has already introduced battery swapping in electric buses.

Ashok Leyland share price is making new highs with the 52-week range being Rs 169.45 - Rs 93.20 on NSE, as per September 8 closing.

Ashok Leyland share price has gained around 29 per cent in 2022 and more than 57 per cent in the last 6 months.

4. TATA POWER 

Tata Power is a Tata Group company. Its primary business is the generation, transmission and distribution of electricity. The company has plans to shift its capacity concentration away from thermal sources and toward clean energy sources. Tata Power has announced to increase its share of clean and green capacity to 60% by 2025, 80% by 2030, and achieve carbon neutrality by 2050.

Tata Power recently set up over 450 charging facilities across more than 350 national highways. This was in line with the company's nationwide plan of setting up charging points from north to south and from east to west. These 450+ EV charging points on the highways are installed at diverse locations like hotels, commercial complexes, car dealerships, among others, in across 25 states and 5 UTs. Tata Power said it has also set up a Network Operations Centre (NOC), which provides the backbone for robust charging support.

The company said it plans to have more than 6,500 charging points by this fiscal. Presently, Tata Power has a network of over 21,000 home chargers (for private usage), 240+ electric bus charging points, as well as more than 2,400 public and semi-public chargers across 300 cities, towns and national highways.

Tata Power share price in the last one year has almost doubled from Rs 132 on NSE. Tata Power share price 52-week range is Rs 298.05 - Rs 129.50.

5. EXIDE INDUSTRIES

 
Exide Industries is involved in the production of storage batteries and related products. It is India's leading storage battery manufacturer, dominating practically every category in the automotive, industrial and submarine industries. 

Earlier this year, the battery maker and joint partner Switzerland's Leclanche SA started mass production of batteries for automobiles at the nation's largest lithium-ion battery plant in Gujarat. The plant has a total installed capacity of 1.5 Gigawatt hours (GWh). 

Exide share price has not moved much in 2022. But it is touted to be a leading player in manufacturing batteries for automobiles. Exide share price has delivered a return of around 15 per cent in last 6 months while it has yielded a negative return of around 7 per cent in on year, as per September 8 closing.

Exide share price 52-week high - Rs 191.90 | 52-week low - Rs 130.25

Besides, there are more companies that are in the EV business and could be a good bet for investment. Companies like Maruti Suzuki India Limited, two-wheeler manufacturers like TVS Motors, Hero Motocorp among others including those involved in manufacturing EV components could be top picks that can yield bumper returns in long term.

(Disclaimer: This article is only for information purposes. Readers are advised to seek experts' advice before making any investment)

ALSO READ: World EV Day 2022: How India will be EV powerhouse in coming years - EXPERTS DECODE