Nomura picks 6 stocks with up to 49% upside potential that can benefit from India’s EV push
India’s EV adoption trends are approaching an inflection point amid the prolonged Middle East conflict, said international brokerage Nomura which in its note highlighted that sales data shows EV penetration continued to rise across segments. It named six stocks that will likely be the key beneficiaries from the renewable move.Nomura highlighted that the policy environment has turned incrementally more supportive for electric vehicles. Prime Minister Narendra Modi recently appealed to citizens to reduce petrol and diesel usage, and increase the use of EVs. “Our dealer surveys indicate that EV bookings have increased materially after recent fuel price hikes. Many consumers are of the view that they should own one EV. EV scooters are nearly stocked out, while demand for EV cars has also increased meaningfully,” it added. These are the stocks that the international brokerage sees benefitting from the “electrification theme”. EV Boost
India’s EV adoption trends are approaching an inflection point amid the prolonged Middle East conflict, said international brokerage Nomura which in its note highlighted that sales data shows EV penetration continued to rise across segments. It named six stocks that will likely be the key beneficiaries from the renewable move.Nomura highlighted that the policy environment has turned incrementally more supportive for electric vehicles. Prime Minister Narendra Modi recently appealed to citizens to reduce petrol and diesel usage, and increase the use of EVs. “Our dealer surveys indicate that EV bookings have increased materially after recent fuel price hikes. Many consumers are of the view that they should own one EV. EV scooters are nearly stocked out, while demand for EV cars has also increased meaningfully,” it added. These are the stocks that the international brokerage sees benefitting from the “electrification theme”. EV Boost
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