Exide Industries to Hero MotoCorp—top EV stocks deliver hefty 50-200% returns in last 12 months

India, the third-largest auto market globally, is on an ambitious drive to push environment-friendly modes of transport. The government views electric mobility as a key tool to reduce emissions and improve air quality with its ambitious 30 per cent electric vehicle (EV) penetration target by 2030. 

India is also aiming for 100 per cent local production of EVs through the 'Make in India' initiative. The automotive sector is a key contributor to India's economy, making up nearly 7.1 per cent of its gross domestic product (GDP). Within this market, the EV segment is projected to hit $34.80 billion in 2024 and grow at a rate of 26.05 per cent annually to reach $110.74 billion by 2029.

Also Read: Ola Electric share price extends listing day gains to hit 20% upper circuit; stock surpasses ₹100-mark

EVs are passenger vehicles powered by an electric motor, which draws electric power from a battery that can be charged from an external source. With advancements in battery technology and an expanding network of charging stations, EV sales are gaining momentum globally.
 

Newly-listed Ola Electric Mobility

Shares of India’s largest electric two-wheeler (e2W) maker were listed at ₹75.99, 0.01 per cent lower than the issue price on the BSE. The stock recovered rapidly, rising 19.97 per cent to ₹91.18, the upper circuit limit. Afterwards, it made a stunning 20 per cent return, rising to ₹91.20, its upper circuit limit.

Ola Electric Mobility expanded into the two-wheeler motorcycle segment, unveiling three electric bike models—Roadster Pro, Roadster, and Roadster X with prices starting from ₹74,999, ₹1,04,999, and ₹1,99,999, respectively.

Ola Electric saw its revenue rise nearly 29 per cent year-on-year (YoY) to ₹1,644 crore in the quarter ended June, helped by accelerated scooter deliveries, while its loss widened to ₹347 crore. The Bhavish Aggarwal-led electric scooter maker registered a revenue of ₹1,598 crore in the March quarter, with a net loss of ₹416 crore. The company’s net loss stood at ₹267 crore in the year-ago quarter.

Ola Electric ramped up deliveries of its mass-market scooter portfolio (S1 X) during the quarter, which helped accelerate growth, it said in a statement on Wednesday. The existing product portfolio, including the S1 Pro, S1 Air and S1 X+, also saw strong demand during the quarter.

With the newly-listed Ola Electric Mobility making waves among EV stocks, we look at the top EV stocks in the Indian markets which have given hefty returns in the range of 50-200 per cent in the last 12 months: 

Also Read: OLA Electric stock spikes 16% as company enters electric motorcycle segment

According to domestic brokerage Smallcase, here are India's top 10 EV stocks:
 

1.Himadri Speciality Chemical Ltd: The commodity and chemicals major emerged as the top EV stock with a massive multi-bagger return of 212 per cent in the last 12 months. The company commands a market cap of ₹22,894.17 crore.
 

2.Amara Raja Energy & Mobility Ltd: The stock has given a multi-bagger return of 145.70 per cent in the last one year. Amara Raja has been actively seeking partnerships to enhance its presence in the Li-ion cell manufacturing segment.
 

3.Hindustan Copper Ltd: The mining major has given a hefty return of 99.19 per cent in the last one year. The company reported impressive growth, with the topline increasing by 33.07 per cent YoY and the profit rising by 139.85 per cent YoY in the June quarter.

4.Exide Industries Ltd: The EV battery major has given a hefty return of 88.69 per cent in the last one year, according to brokerages. The company commands a market cap of ₹42,100.50 crore.

5.Vedanta Ltd: The metals-to-mining conglomerate has returned 81.68 per cent in the last year. The Anil-Agarwal-led group recently sold a larger portion of its stake in its subsidiary Hindustan Zinc through an Offer for Sale (OFS) than initially planned.

6.Hero MotoCorp Ltd: The auto major has given a return of 77.42 per cent in the last one year. Hero MotoCorp reported a standalone net profit of ₹1,123 crore in the June quarter, marking a 36 per cent increase from the ₹825 crore reported in the same period last year.

7.Mahindra and Mahindra Ltd: The auto major has delivered a return of 75.57 per cent in the last one year. M7M's topline increased by 20.44 per cent, and the profit increased by 38.74 per cent YoY in the June quarter.
 

Also Read: Ola to roll out portable dark stores for quick commerce
 

8.Tata Motors Ltd: The leading auto major has given a return of 68.22 per cent in the last one year. The topline increased by 5.68 per cent, and the profit increased by 73.79 per cent YoY in the June quarter.
 

9.Servotech Power Systems Ltd: The electric components major has given a return of 59.45 per cent in the last one year. The company commands a market cap of ₹132 crore.
 

10.KPIT Technologies Ltd: The auto major has given a return of 51.11 per cent in the last one year. The company commands a market cap of ₹1,739.25 crore.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.