What is CMP in the Stock Market?
In previous times, the stock market was a physical space that traders set up offices and desks at, and stocks, shares and bonds were traded in physic…
13 May, 2021
9 min read
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EV stocks or stocks related to electric vehicles (hence the acronym EV) becoming increasingly popular as the world becomes more conscious of its carbon footprint.
A movement towards electric cars is being widely speculated and, as anyone would agree, is a necessity. The way things look right now, saving the planet is everyone’s business. Moreover, rising fuel prices are another incentive to move to electric cars. Even buyers who might be blind to the planet’s plight, are sure to be moved by the potential to save on fuel expenditure.
In several countries, electric cars have already become extremely popular – Norway, the USA, Iceland, Sweden and the Netherlands are considered to be leaders in the electric car race. India being a market of scale has attracted the attention of the world’s best-known name in EV, Tesla. A Tesla manufacturing plant and office has been announced and is to be located around Karnataka. Meanwhile, the government is also doing its bit to encourage Indian brands to consider electric cars in their product line-up. Tata Motors was awarded over 1000 crores to manufacture 10,000 electric cars in India. People are also willing to pay – the minimum price of Tata’s Nexon, an EV, is listed as about Rs 14 lakh online. Prices go up to nearly Rs 17 lakh.
Considering all the noise – and capital – surrounding the EV revolution, investors are keen to know about EV investment options in India.
Should you consider them?
EV stocks as a whole display encouraging potential. Demand and spend projections look very promising, a lot of it driven by government targets. Of course, keep in mind that these are just targets:
- 30% of all vehicles in India to be electric vehicles by 2030
- This includes 30% of all personal vehicles and 40% of commercial vehicles
- Over 30 million EV sales projected by 2030
However, these figures alone are not a good enough reason to go out there and start picking up just about any EV stock, without sufficient reasoning. You must evaluate hard numbers at all times. Get a proper picture of the stock and the company that you intend to invest in by first the stock price, PE ratio and market capitalization. Thereafter, you should give the company’s balance sheet and quarterly reports a glance. Check what they have in their product line-up and do your research on how market experts view these plans. Have a look at how the company’s existing EV products – if any – are performing.
Remember that you are going to be holding these stocks for a long time – 2030 is nine years away and the revolution might be longer in the making! You know how it is with sea changes. Consider the time horizon of your investment and settle on an amount that you can truly long away for a decade or so. You’re looking to get in before the uptrend and the wait in such a strategy is usually rather long. Be prepared to tie your capital up for longer than a decade – maybe even two – if the movement towards electric vehicles takes longer to pick up.
What EV stocks exist in the (Indian) market?
Now that we’ve talked about the key considerations that you must use to filter EV stocks, we’re going to present to you thirteen EV-related stocks, ready for your selection with 3 key filters thrown in. We haven’t restricted ourselves to car manufacturers and have also considered allied companies such as those involved in the manufacture of automobile batteries.
Once you are able to narrow down choices based on our alphabetically organized list, be sure to look at company financials with a magnifying glass before investing. Also do remember that stock prices fluctuate every second and so you will need to check the prices once again when you are closer to making an investment. We’ve taken the trouble to present you with these numbers so that you get an indicative idea.
Amara Raja Batteries Ltd
Claim to fame: Second largest car battery manufacturer in India
Hard numbers:
Market cap Rs 15,604.58
PE Ratio 26.26
Share Price Rs 914.20
Ashok Leyland Ltd
Claim to fame: Manufacturer of the first-ever electric bus, that too one that possesses the ability to flash charge! Like your smartphone!
Market cap Rs 38,587.51
PE Ratio -77.22
Share Price Rs 131.45
Exide Industries Ltd
Claim to fame: Biggest manufacturer of automobile batteries, it also has its fingers in the industrial battery pie
Market cap Rs 17,667.25
PE Ratio 24.37
Share Price Rs 207.50
Graphite India Ltd
Claim to fame: As the name suggests this company deals in graphite, the non-metal that acts as a metal and is a great conductor, and a major component of batteries that will drive electric vehicles.
Market cap Rs 29,597.83
PE Ratio -93.18
Share Price Rs 491.25
High Energy Batteries (India) Ltd
Claim to fame:
Market cap Rs 1.37B
PE Ratio 10.58
Share Price Rs 822.65
Himadri Speciality Chemical Ltd
Claim to fame: Planning to double its production of Lithium-ion batteries
Market cap Rs 2,004.00
PE Ratio -926.10
Share Price Rs 47.85
Indian Oil Corporation Ltd
Claim to fame: Planning to provide charging stations for electric vehicles
Market cap Rs 17,667.25
PE Ratio 24.37
Share Price Rs 207.50
Mahindra & Mahindra Limited
Claim to fame: Already has the Mahindra Reva, the Mahindra e20 and the Mahindra e20 plus on the road.
Market cap Rs 1,06,169
PE Ratio -178.85
Share Price Rs 852.05
Maruti Suzuki India Ltd
Claim to fame: Country’s largest manufacturer
Market cap Rs 2,15,223
PE Ratio 48.13
Share Price Rs 7,124.70
Olectra Greentech Ltd
Claim to fame: 200 electric buses on road, tie-up inked to bring that figure to 5,000.
Market cap Rs 1,474.17
PE Ratio -926.10
Share Price Rs 178.90
Tata Motors Limited
Claim to fame: Already has The Tigor EV, Nano EV, and the Tiago electric on the road in addition to the Nexon.
Market cap Rs 1,15,713
PE Ratio -7.35
Share Price Rs 348.50
Tata Power Company Limited
Claim to fame: Aims to become the name in EV charging and has signed agreements with fuel stations to further this goal.
Market cap Rs 3,630.95
PE Ratio 29.58
Share Price Rs 105.25
Minda industries
Claim to fame: Plans to have an EV on the market by 2025-2030
Market cap Rs 184.88B
PE Ratio 184.67
Share Price Rs 540.00
EV stocks do look like they are brimming with potential. However, as with any stock market investment, earnings cannot be guaranteed and risk is a constant factor. Before you invest, check key factors such as those highlighted above, study company financials and make a well-informed choice. When choosing your stock market investments, always ensure sufficient diversification. Once you have invested, adopt a long-term view and avoid reacting with either greed or fear.
Start your investment journey with Angel Broking and always remember – everyone can invest irrespective of their age, gender and occupation.
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