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5 Electric Vehicle Stocks With Multibagger Returns Of Up To 744% In 1-Year
The Indian government is engaging in all possible efforts to boost the sales of EVs in the country and lately the Road Transport and Highways minister- Nitin Gadkari said that in the next 2 years the cost of e-mobility vehicles in the country will be at par with that of petrol vehicles. Other measures such as the 'Switch Delhi Campaign' introduced this year to promote the adoption of EVs also suggests the bright prospects of the EV segment in the country.
Further as the electric vehicle space has various segments to it other than core EV manufacturing entities such as the one's into electric vehicle battery manufacturing, those helping build EV charging infra, here we talk about all companies in the space that have delivered multibagger returns on a YTD and 1-year basis.
1. Tata Motors:
Towards the end of 2019, the leading auto company announced that it shall leverage the capabilities' of its group entities to foray into the electric vehicle segment. The company has then unveiled the Nexon EV- its first electric Sport Utility Vehicle (SUV) and currently commands the highest market share within the electric personal vehicle division. Also, the company is into the commercial EV space and has developed a fully-electric CV indigenously. Other than electric buses, the company is also developing its product range of small electric CVs to cater to the last-mile distribution needs.
2. Olectra Greentech:
Established in the year 1992, Hyderabad based Olectra Greentech is a pioneer in electric bus manufacturing and composite insulators in the country. The company's other interest areas are amorphous core-distribution transformers, Data Analysis and IT consulting.
The company is said to set up the country's largest electric bus facility with a capacity of 10,000 units. The company will also soon venture into the electric truck and electric 3-wheeler segment.
3. JBM Auto:
The auto ancillaries firm in order to tap fresh growth opportunities into the EV space formed a new company JBM Ecolife Mobility Private Limited. The new entity will sell e-buses and also augment electric charging infra for electric buses. Recently, the company bagged an order from the Delhi government for 200 low-floor electric buses.
4. Kabra Extrusion Technik:
This is a small cap company manufacturing plastic extrusion machinery for over 4 decades. Lately the company has forayed into manufacturing lithium-ion batteries. These batteries are said to be the 'future of the auto world' owing to its various advantages such as that of being lighter in weight in comparison to other rechargeable cells, capability to hold charge in a much better way etc.
The company carries out its battery manufacturing business through its division Battrixx which bagged its single largest order of supplying 8000 battery packs to WardWizard- a leading automobile-2 &3-wheelers company operating in the EV space under the brand Joy e-bike.
Tata Power:
The power generation and distribution entity has come in full support of the government's 'National electric mobility mission' and has deployed the first set of electric vehicle charging infra in Mumbai. Now present in Delhi and Hyderabad also, the company lists out its USP as smart charging with Tata Power mobile, last mile charging and battery swapping for 2, 3-wheelers among others.
| Stock | Current Stock price in Rs. | YTD returns in % | 1-Year return in % |
|---|---|---|---|
| Tata Motors | 491.35 | 168 | 170.00% |
| Olectra Greentech | 880 | 548 | 744 |
| JBM Auto | 1118 | 302 | 309 |
| Kabra Extrusion | 329.3 | 238 | 255 |
| Tata Power | 221.65 | 193 | 191 |
Disclaimer:
Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.
