In a 1st, NSE drives in EV stocks index

MUMBAI: NSE Indices, the index services subsidiary of the country's largest index by turnover, on Thursday launched Nifty EV & New Age Automotive index, a new thematic benchmark that's the first in the country for this industry segment. The top five constituents of the index are Bajaj Auto, Tata Motors, M&M, Maruti Suzuki India and Exide Industries, the index's fact sheet showed.

This 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," Mukesh Agarwal, CEO, NSE Indices, said.