Don’t Miss Out on These 5 Top EV Stocks in India for 2023

Curious about the future of investments? Read this article to explore India's finest EV stocks of 2023 and be part of the transformative journey towards electric mobility!

 EV Stocks

Imagine driving a car that runs on clean energy, saves you money on fuel, and helps you fight climate change. Sounds too good to be true, right? Well, not anymore. Electric vehicles (EVs) are here to make this dream a reality. EVs are vehicles that use electricity as their primary source of power, instead of fossil fuels. They have been gaining immense popularity recently due to their ability to reduce harmful emissions and prevent the depletion of natural resources. This article discusses some of the best EV stocks in India that can help you reap the benefits of this green revolution.


  • EVs run on clean energy, fight climate change

  • EVs reduce harmful emissions and prevent resource depletion

  • Top EVs include TVS Motors, Tata Motors, etc

Also ReadTax benefits of e-vehicles: How to avail it?

Investors looking for long-term investment opportunities can consider the EV sector in India. These companies have demonstrated their excellence, innovation, and vision in this domain. They can offer you long-term returns, portfolio diversification, and environmental benefits. However, be mindful of the risks and uncertainties that the EV industry faces, such as policy changes, infrastructure gaps, technological disruptions, and competition. 

Top EV companies include:

1. TVS Motors

CMP: Rs. 1416; Market Capitalisation: 67142 crores; Book Value: 125; PE ratio: 46; 1 year return:44%

TVS Motor Company produces EVs like TVS iQube and TVS Kings. Customers can use TVS ARIVE app to explore, book, and order TVS Apache series motorc

2. Tata Motors

CMP: Rs. 610; Market Capitalisation: 202534 crores; Book Value: 145; PE ratio: 19; 1 year return:30%

Tata Motors focuses on electric passenger vehicles (Nexon EV, Tigor EV, Nano EV, Tiago EV) and buses in India. It is also setting up charging stations to improve the EV infrastructure.

3. Indian Oil Corporation

CMP: Rs. 91; Market Capitalisation: 128941 crores; Book Value: 109; PE ratio: 5; 1 year return: 27%

Indian Oil Corporation has set up 257 EV charging stations and 29 battery swapping stations, and aims to provide seamless EV driving experience and achieve zero carbon emissions.

4. Mahindra & Mahindra

CMP: Rs. 1577; Market Capitalisation: 196751 crores; Book Value: 479; PE ratio: 17; 1 year return: 21%

Mahindra stands out in the EV market with a history of EV launches, battery production, and charging station promotion. Pioneering Indian EVs since 2001 with Mahindra Reva, they've expanded offerings like E20 and eVerito.

5. Olectra Greentech

CMP: Rs. 1206; Market Capitalisation: 9896 crores; Book Value: 105; PE ratio: 148; 1 year return: 94%

Olectra Greentech is India's largest EV bus manufacturer. It is known for its K9 electric bus, which has a regenerative braking system and fast charging technology.

Also Read: What subsidies available on electric vehicles?

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or tax advice.

Click here for latest articles on Stocks


Related Article

Premium Articles

Union Budget