E-vehicles coming: Bet on these 5 stocks to ride boom

Some analysts say companies which are involved in supplying to overseas markets could be better bets as electrical vehicle usage in India is yet to take off in a big way. NSEBSEOK Play IndiaLoading data…

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          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAshok LeylandEXPAND TO VIEW ALL The range of stocks to play on the electric vehicle theme is set to get bigger with the Indian government’s aggressive push to electrify all new vehicles by 2030. Some analysts say companies which are involved in supplying to overseas markets could be better bets as electrical vehicle usage in India is yet to take off in a big way. ET takes a look at five companies which are making inroads into the electric vehicles space.

          Himadri Speciality Chemical
          CMP: Rs 106.65 | YTD % Change: 220.27

          A RECENT note by Prabhudas Lilladher said the company, which makes anode material for lithium-ion batteries, has started marketing its product with lithium-ion battery makers and intermediaries based in China on trial basis. Lithium-ion battery is used in electrical vehicles. “This business forms 1% of the total volume for Himadri at present, but can grow as the global acceptance of electric vehicle increases,” said Basudeb Banerjee, analyst at Antique Stock Broking.

          Ashok Leyland
          CMP: Rs 118.25 | YTD % Change: 47.63

          THE HINDUJA group company had introduced its electric bus “Circuit” last year and more recently has formed a strategic alliance with SUN Mobility to develop electric mobility solutions. “You will fi rst see us offering our portfolio in electrifi cation in buses before moving to trucks. In trucks, we have products where electrical models will be added to portfolio in addition to diesel and CNG over the next couple of years,” said Karthick Athmanathan, head, electric vehicles and e-mobility solutions at Ashok Leyland.

          OK Play India
          CMP: Rs 202.40 | YTD % Change: 66.31

          THE PLASTIC auto components maker had made its foray into the electric vehicle industry in 2015 by launching electric rickshaw e-Raaja. In March this year, the company had launched eight e-vehicles under the brand e-Raaja priced at `1.25-1.5 lakh. “We have seven plants currently. Another four are in the offi ng and will be in production by December. With that we will have a capacity of 250,000 vehicles annually,” said Rajan Handa, MD, OK Play India.

          Exide Industries
          CMP: Rs 226 | YTD % Change: 25.55

          KOLKATA-BASED battery maker Exide Industries is looking to start making batteries for electrical vehicles, media reports suggest. “If demand for existing engines falls, then the company will suffer but it can gain from the balancing effort of producing batteries for electric vehicles early on,” said Banerjee of Antique Stock Broking. In case Exide starts producing lithium-ion batteries for exports, it would a positive change for the business, added Banerjee.

          JBM Auto
          CMP: Rs 575.60 | YTD % Change: 149.50

          HDFC SECURITIES said in a recent note that JBM Auto is in a sweet spot to reap benefi ts from the government’s push on electric vehicles. The company is in a JV with Polish fi rm Solaris Bus to make electric buses. The JV will start yielding results from FY19, said HDFC Securities. “We are not merely looking at the OEM space, but we are looking to give the complete mobility solution. Domestic market initially will be larger portion for us but defi nitely we will be catering to the global market as well,” said Nishant Arya, executive director at JBM Group.

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