NSE Indices launches India’s first electric vehicle index

Image used for representative purpose only.

NSE Indices Ltd, a subsidiary of the National Stock Exchange, on Thursday launched the EV and new-age automotive index to track the performance of companies which form a part of the EV ecosystem.

This would be the country’s first ever electric vehicle (EV) index.

“The launch of the Nifty EV and new-age automotive index will facilitate 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,” NSE Indices said in a statement.

The government has always been at the forefront of framing policies related to EV adoption so that EVs with the latest technology can be manufactured in the country and attract investments by global EV manufacturers, thereby giving a boost to the Make in India initiative.

The base date for the new thematic index is April 2, 2018, and the base value is 1,000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis.

The 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.

Leave a Reply

Your email address will not be published. Required fields are marked *