5 best EV Stocks in India 2024; Mahindra & Mahindra reaches 3,22,425.95 cr market capital
As India moves to a greener future, the market for electrically driven automobiles and trucks will grow dramatically by 2024. The top EV stocks in India are explored in this article, which also highlights companies that are setting the standard for sustainability, innovation and market capitalization.
Here are the 5 best EV Stocks in India 2024
| Company Name | Market Cap (Rs. crores) | Stock Price (Rs.) |
| Mahindra & Mahindra | 3,53,783.95 | 2,857.45 |
| Hindustan Copper Ltd | 32,917.50 | 340.30 |
| Himadri Speciality Chemical Ltd | 16,912.57 | 342.25 |
| Tata Motors | 3,22,425.95 | 970.50 |
| Hero MotoCorp | 1,11,541.57 | 5,581.85 |
Mahindra & Mahindra
Mahindra & Mahindra, a well-known Indian multinational corporation, has a market capitalization of Rs. 3,53,783.95 crores, and its stock is trading at Rs. 2,857.45 per share. The company has a significant presence in the aerospace, agriculture, and automotive sectors, and is recognized for producing a wide range of vehicles, including electric cars, SUVs, and utility vehicles. Mahindra has been instrumental in shaping India’s automotive environment, and has made significant progress in the field of electric transportation with products like the eVerito and eKUV100.
Hindustan Copper Ltd
Hindustan Copper Ltd has a market capitalization of Rs. 32,917.50 crores, with its stock trading at Rs. 340.30 per share. For electric cars, copper is necessary, particularly for the wiring and motors. The growth and efficiency of the electric vehicle sector are supported by Hindustan Copper’s contribution to this essential metal. In 2019, the business established two PSU enterprises, Mineral Exploration Corporation Limited (MECL) and NALCO, into strategic joint ventures called Khanij Bidesh India Ltd (KABIL).
Himadri Speciality Chemical Ltd
Himadri Speciality Chemical Ltd has a market capitalization of Rs. 16,912.57 crores, and its stock price is Rs. 342.25 per share. Himadri is a chemical manufacturing specialist who produces materials for lithium-ion batteries. Their contributions are essential to the creation of durable and effective EV batteries. The business announced in December 2023 that it will invest Rs. 4,800 crore to start producing lithium-ion battery components.
Tata Motors
Tata Motors has a market capitalization of Rs. 3,22,425.95 crores, and its stock is currently trading at Rs. 970.50 per share. As a significant Indian automobile manufacturer with a global presence, Tata Motors has made notable contributions to the electric vehicle (EV) sector through vehicles like the Nexon EV.
Hero MotoCorp
Hero MotoCorp, the largest motorcycle and scooter manufacturer in the world, has a market capitalization of Rs. 1,11,541.57 crores, and its stock is trading at Rs. 5,581.85 per share. Based in India, the company was formerly known as Hero Honda until it became a separate entity in 2011. Hero MotoCorp has a significant market share in India and is well-known for its motorcycles.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.