Best EV stock to buy in 2023

In the sphere of transportation, new technologies are constantly being developed. These alternate transportation methods, however, are built around electric cars. To achieve popularity before the industry completely transitions away from conventional fossil fuels, many companies have joined on board.

This change can also be seen as a last-ditch effort by established businesses to catch up to the standards set by electric vehicle (EV) manufacturers like Tesla

If you’re a real-time investor seeking for a reliable sector to invest in moving forward, EV Stocks are without a doubt your hot bait.

You will be able to benefit financially even while the market declines thanks to India’s EV Stock growth. So let’s look at the Indian market for electric vehicles and the top Indian EV Stocks that investors should be aware of. 

Best EV Stocks in India

  1. Tata motor  
  2. Mahindra and Mahindra
  3. TVS Motors
  4. Olectra Greentech
  5. Ashok Leyland  –      

Tata Motor –

Tata Motors Limited is a recognised automotive producer on a global scale. The company’s diverse portfolio includes a range of cars, sports utility vehicles, trucks, buses, and defence vehicles. Among EV stock segments are the automotive and other operations.

Its automotive segment is divided into four reportable sub-segments: Tata Commercial Vehicles, which includes small commercial vehicles (SCV) and pickup trucks; medium and heavy commercial vehicles; intermediate light commercial vehicles; and CV passenger vehicles;

Tata Passenger Vehicles, which includes utility vehicles and passenger cars produced under the Tata and Fiat brands; and Jaguar Land Rover, which includes vehicles made under the Land Rover brand.

Its operations cover machine tools, factory automation solutions, and information technology (IT) services.

About Tata motor

Consensus price target on Tata Motors rose 11.6% to 581.63, Bloomberg data showed. US brokerage house Jefferies sees 25% upside potential from the current levels, while BNP Paribas believes the stock can yield another 23% returns from here.

Tata Motors market percentage 

According to FADA, Tata Motors retail sales increased from 34,055 units in the same month the previous year to 38,965 units in February. Its market share increased from 13.16 percent in February 2022 to 13.57 percent last month.

 

2 . MAHINDRA AND MAHINDRA LTD.

    Indian multinational Mahindra and Mahindra. Sport utility vehicles (SUV), pickup trucks, commercial tractors, electric vehicles, two-wheelers, and construction equipment are among the farm solutions and mobility products offered by Mahindra & Mahindra.

 

Additionally, they sell electric cars such the Mahindra Ekuv100, Exuv300, and eVerioto.

 

In India, Mahindra has taken a leading role in the creation and promotion of electric vehicles. You may purchase Mahindra stock.

       Mahindra & Mahindra Ltd. share research

Mahindra & Mahindra Ltd. has long-term price targets from 13 studies. Mahindra & Mahindra Ltd. typically aims at $155.18. The consensus prediction shows a rise of 12.95 percent from the most recent price of 1373.25.

 

3 . TVS Motor company Ltd

A well-known brand in the automobile industry is TVS Motors. The two and three wheeler segments make up the product line for TVS Motors. The iQube EV from TVS is a well-liked model. It comes in a variety of forms. TVS Motor provides an excellent network of services and support. Along with EV, TVS offers a variety of additional products.

TVS motor share in market

– With 20,253 units sold, TVS Motor Co.’s iQube surpassed the 20,000-unit milestone.

4. Ashok Leyland

Switch Mobility, Ashok Leyland’s electric vehicle company, would invest $1 billion in a dedicated EV production facility in South India. It is believed to be in Tamil Nadu, on the outskirts of Chennai, according to those in the know. As part of the plan to help Ashok Leyland satisfy the rising demand for EVs for last-mile goods and public transport, 30,000 E-LCVs and 10,000 electric buses will be installed.

5 Olectra Greentech

 

In India, Olectra Greentech Ltd. is a pioneer in the production of electric buses and insulators. Through this endeavour, OGL has contributed to the development of India’s power transmission and distribution systems.

The development of innovative solutions for society has ushered in a new era as a result of Olectra’s commitment to environmental support. Olectra accepted its growth route towards cutting-edge green technology as part of its purpose.

India is the world’s first and top provider of EHV composite insulators.

The shares of the industry-leading electric car business Olectra Greentech have increased by a staggering 6,340% over the previous 10 years, providing investors with bumper returns. As a result, an investment of approximately Rs 1 lakh in the company’s shares would have grown to almost Rs 64 lakh.

Recent price of each share on Wednesday 19 july 2023 is Rs 1305 , if i compare it with its 52 week earlier price, it was Rs 374 only.

after analyzing this we can say this EV stock  has high  potential to grow more.

 

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