NSE Ignites EV Investment With Debut Of Electric Vehicle Index

NSE Ignites EV Investment With Debut Of Electric Vehicle Index

National Stock Exchange of India (NSE’s) index services subsidiary, NSE Indices Limited recently launched a new thematic index – the Nifty electric vehicle (EV) and automotive index.

The nifty electric vehicle (EV) automotive index aims to track the performance of companies that form a part of the EV ecosystem. It includes companies that are involved in the development of new automotive vehicles or related technology.

It also supports the government initiative of framing policies related to e-vehicle (EV) adoption in the country and promoting India’s manufacturing destination. It extends support to EVs in manufacturing the latest technology and attracts investments in the e-vehicle space by reputed global EV manufacturers. This aims to boost the Make in India initiative.

Mukesh Agarwal, CEO, of NSE Indices, said, “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 the 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.”

The base date for the index is April 02, 2018, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced quarterly. The new index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds, and structured products.