NSE Indices Introduces India’s first Electric Vehicle Index - Nifty EV & New Age Automotive Index

NSE Indices Introduces India’s first Electric Vehicle Index - Nifty EV & New Age Automotive Index

The index has a base date of April 2, 2028 and a base value set at 1000.

G R MukeshUpdated: Thursday, May 30, 2024, 07:40 PM IST
article-image
Representative Image | File

NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE) on Thursday launched a new thematic index: the Nifty EV & New Age Automotive India, a new index designed to track the performance of companies that are integral to the electric vehicle (EV) ecosystem or are involved in the development of next-generation automotive technologies.

Key Features of the Index

The index has a base date of April 2, 2028 and a base value set at 1000.

To ensure the index remain relevant, it will be reconstituted semi-annually and rebalanced on a quarterly basis.

"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,” added Mukesh Agarwal, CEO, NSE Indices.

The introduction of the new index is expected to open up new investment avenues and is anticipated to serve as a benchmark for asset managers and as a reference index for passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products.

"The Nifty EV & New Age Automotive index aims to track the performance of companies which form a part of the EV ecosystem or are involved in the development of new age automotive vehicles or related technology," added the NSE said in the press release.

RECENT STORIES

Real Estate Tycoon Kiran Khawaja, CEO Of Fajar Realty, Walks Away With Coveted 'Top Female CEO Of...

Real Estate Tycoon Kiran Khawaja, CEO Of Fajar Realty, Walks Away With Coveted 'Top Female CEO Of...

Morgan Stanley Forecasts 15.3% CAGR In Indian Infrastructure Investments Over Next Five Years

Morgan Stanley Forecasts 15.3% CAGR In Indian Infrastructure Investments Over Next Five Years

As Many As 458 Infra Projects Hit By Cost Overrun Of ₹5.71 Lakh Crore

As Many As 458 Infra Projects Hit By Cost Overrun Of ₹5.71 Lakh Crore

Essence Of American Muscle: 2025 Ford Mustang GTD With A Colossal 800 Hp Output

Essence Of American Muscle: 2025 Ford Mustang GTD With A Colossal 800 Hp Output

5 Benefits Of Linking Aadhaar Card With Bank Account You Need To Know

5 Benefits Of Linking Aadhaar Card With Bank Account You Need To Know