In 2024, EV stocks are booming, even though this is just starting to grow this sector. This is the best and right time to invest in EV sector stocks; in 2024, they will grow, and after this year, they will boom. In India, there are so many stocks working in the EV sector. So in this article, we will guide you and suggest the best EV stocks to invest in.
Future of EV Stocks
The EV market is a world-growing sector that will give any investor a massive result or the best return in the future. In terms of electric vehicles (EVs), India is one of the fastest-growing countries in the world. Tata Motors, Mahindra & Mahindra, Eicher, and many more companies (stocks) are the best examples.
Top 5 EV Stocks in India
- Tata Motors Ltd
- NTPC Ltd
- Power Grid Corporation of India Ltd
- Indian Oil Corporation Ltd
- Mahindra and Mahindra Ltd
Read this – Which stock will boom after 2024 election in India?
Tata Motors
Short overview of Tata Motors
Tata Motors is the biggest automobile-leading company in India. Sir Ratan Tata owns this company. Tata Motors is a global automobile manufacturer that offers a wide range of commercial EV cars on the market. Tata Motors was established in 1945 as a locomotive manufacturer, and after nine years, Tata Group entered the commercial vehicle sector in 1954. Right now, Tata Motors specializes in electric vehicles. Tata Motors manufactures lots of electric vehicles like the Ev Punch, the Ev Naxon, and more. Tata’s maximum cars are SUVs, and these cars come with the best features and a 5-star safety rating. So Tata is the leading company in the Indian market.
If we talk about the growth of Tata Motors, then Tata Motors gave 44.23% of its return to its investors in the last year. This is a large-cap company with an 18.7 PE ratio. The market cap of Tata Motors is ₹3,77,065 crore. This company is the most profitable in India. The current price of Tata Motors shares is Rs. 1028. You can invest in this company right now, or you can wait for some time when the price will decrease by a certain percentage, then you can invest in it.
NTPC Ltd
NTPC is the largest power generation company in India and one of the top public sector companies in India. It has an excellent work culture, and the management is very supportive. This company is one of the best power sector companies in India. NTPC primarily focuses on two main activities: establishing power plants and generating power through coal-based and gas-based facilities.
If we talk about the fundamentals, NTPC has ₹3,57,954 crore . of market capital and an 18.4 percent P/E ratio. The company provides 1.96% of the dividend to their investors. The company also has ₹10 of face value, which is a positive indication, and this company gave a 109.27% return in one year. NTPC is still undervalued and positive fundamentally. The current price of NTPC shares is ₹364.95. This company works in the power sector, so it has more potential to become a multi-beggar company.
Power Grid Corporation of India Ltd.
Power Grid Corporation of India Limited, a central public sector undertaking owned by the Ministry of Power, Government of India, plays a crucial role in transmitting bulk power across various states in India. Power sector stocks are the future of India. So this stock can give a massive return in the future.
So let’s talk about the fundamentals. This stock has a great fundamental; it has a ₹2,89,248 crore . market cap, and if we talk about the P/E ratio, it has an 18.4 P/E ratio. This stock provides a dividend of 3.56% and ₹10 of its face value. It gave a 72.91% massive return in 1 year, and the current price of this stock is ₹311. You can invest in it after your personal analysis.
Indian Oil Corporation Ltd.
IOCL (Indian Oil Corporation Ltd.) is one of the largest oil companies in India that works on refining, pipeline transportation, marketing of petroleum, petrochemicals, and natural gas, manufacturing of petrochemicals, and exploration and production of crude petroleum and gas. IOCL is a big player in the oil and gas industry.
Look at the fundamentals of this stock. This stock has a great fundamental; it has a ₹2,41,120 crore . market cap, and if we talk about the P/E ratio, it has a 5.78 PE ratio (positive point). This stock provides a dividend of 2.93% and ₹10 of its face value. The current price of this stock is ₹171. Also, the company has delivered good profit growth of 19.3% CAGR over the last 5 years.
(You can invest in it after your personal analysis.)
Mahindra and Mahindra Ltd.
Mahindra is one of the top and best vehicle companies in India. The company produces vehicles like SUVs, multi-utility vehicles, pickups, lightweight commercial vehicles, heavyweight commercial vehicles, two-wheeled motorcycles, and tractors. Also, Mahindra maintains business relations with foreign companies like France and Renault SA, which is another good or positive sign of this company. Mahindra is always in high demand, and new vehicles are also focusing on EVs, so in the future, the price of Mahindra stock will increase.
Let’s talk about the fundamentals: This stock has ₹2,72,706 crore . of market capital and a 24.5 PE ratio. Companies provide 0.74% of their dividends to their investors. The company also has ₹5 of face value, which is a positive indication, and this company gave a 78.06% return in one year. This stock is at a high price right now, but you can invest in it after your analysis and according to your budget. The current price of Mahindra & Mahindra Ltd. shares is ₹2,193.
Here, we suggest some more stocks to invest in.
- TVS Motor Company Ltd.
- Eicher Motors Ltd.
- Ashok Leyland
- JBM Auto Ltd.
- Amara Raja batteries
- Exide Industries
If you are a long-time investor, then these stocks should be in your portfolio. These shares can give you massive results in the future. So before investing in these stocks, do your personal analysis too.
Read this: Which stock will boom after the 2024 election in India?
Conclusion: This is our personal analysis. Please do your personal analysis before investing in any stock. We just provide you with the with the best stocks after our personal analysis. If you want to invest in stocks that we recommend in this article, then analyze more about the stocks and invest your money in them or in any stocks.