NSE Indices launches India’s first Electric Vehicle Index

NSE’s index services subsidiary, NSE Indices Limited today launched a new thematic index – Nifty EV & New Age Automotive index.

Mr. Mukesh Agarwal, CEO, NSE Indices, said, “The Nifty EV & New Age Automotive India’s first ever Electric Vehicle Index aligns with NSE’s vision to provide innovative indices in line with market trends. The launch of the Nifty EV & New Age Automotive index will facilitate creation of products which will create opportunity for asset managers to invest in the Electric vehicle and new age automotive market thereby providing an investment vehicle to investors.”

The base date for the index is April 02, 2018, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis. Currently, the index has 33 stocks. Top constituents by weightage include Bajaj Auto, Tata Motors Ltd, Maruti Suzuki India Ltd, Mahindra & Mahindra Ltd, Exide Industries Ltd, Bosch Ltd, Samvardhana Motherson International Ltd, Eicher Motors Ltd, CG Power and Industrial Solutions Ltd and Himadri Speciality Chemical Ltd.