EV And New Age Automotive Index: NSE's Newest Offering In Indices

EV And New Age Automotive Index: NSE's Newest Offering In Indices

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.

Vikrant DurgaleUpdated: Saturday, June 15, 2024, 01:42 PM IST
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The Nifty EV and New Age Automotive Index was introduced on Thursday by NSE Indices, the index services subsidiary of the National Stock Exchange (NSE), as the use of electric vehicles (EV's) rises in tandem with the expansion of the charging infrastructure for them.

According to a statement from NSE Indices, the goal of the EV Index is to monitor the performance of businesses that are either developing new generation automobiles or associated technologies, or that are a part of the EV ecosystem.

Base Data

The index's base value is 1,000, and its base date is April 2, 2018.

According to Mukesh Agarwal, CEO of NSE Indices, "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 Nifty EV Index will make it easier for companies to produce goods that will give asset managers the chance to invest in the EV and "new-age automotive market, thereby providing an investment vehicle to investors." Agarwal added.

The index will undergo semi-annual reconstitution and quarterly rebalancing.

Componants of the Index

The companies that manufacture EVs, new-age automobiles, electric batteries, EV or electric battery component manufacturers, and businesses that manufacture or supply raw materials for EVs and autonomous vehicle technology are all included in the Nifty EV & New Age Automotive Index.

It also comprises suppliers of technologies for autonomous vehicles and manufacturers of autonomous vehicles.

Beneficiaries of the EV Index

NSE Indices said, the new index is anticipated to serve as a reference index tracked by passive funds such as 'Exchange Traded Funds' (ETFs), 'Index Funds', and structured products, as well as a benchmark for asset managers.

When it comes to developing national policies pertaining to the adoption of EVs, the government has taken the lead.

The goal is to position India as a manufacturing hub for EVs with cutting-edge technology, thereby luring investments into the e-vehicle industry.

NSE's latest additions in Indices

New sectoral and thematic indices have been introduced by NSE in recent months. Examples of these include the Nifty MidSmall Healthcare Index, the Nifty500 Multi Cap Infrastructure 50:30:20 Index, and the Nifty500 Multi Cap India Manufacturing 50:30:20 Index.

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