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Best 6 EV Stocks In India 2023 – sharespricetarget

Best EV Stocks In India in 2023 | EV stocks you should look into 2023

In recent times EV industry is growing rapidly, as to climate change and other reasons globally every government is more focusing on renewable energy resources. So there will be a major shift going to happen in the Vehicle sectors.

In the future, there will be tremendous growth in Electric Vehicle Sector. So many investors are looking forward to investing in EV company shares. In this article, we will see the Top 6 Best EV Stocks To Buy In India in 2023

Indian Electric Vehicle Industry

In recent years you can see tremendous growth in Electric vehicles has occupied in the Indian Vehicle sector like two-wheelers, cars, autos, and heavy vehicles. Everyone is shifting toward EV vehicles due to the fluctuation of fuel rates, climate changes, and less maintenance.

The Indian Electric Vehicle Market is expected to grow annually by 49% compound growth of CAGR by 2030. And this sector can produce up to 50 million direct and indirect jobs by 2030.

Best EV Stocks In India 2023.

Here is the list of the Best EV stocks in India that you should look into in 2023.

TVS Motor Company Ltd

Best EV stocks in India

TVS Motor Company is a well-established company in Two wheeler, three-wheeler, and other accessories sectors. The company has a total market share of 17% in the EV vehicle sector in the Indian EV industry. Let’s see the company’s key ratios in recent times.

Market Cap Rs. 51,535Cr
EPS [TTM]26.73
Dividend Yield0.55%
P/E Ratio TTM40.58
Industry P/E15.90
Debt To Equity3.68
P/B Ratio11.71

Ashok Leyland

Ashok Leyland which belongs to Hinduja Groups is the leading manufacturer of Heavy vehicle sectors, the company has a global business model with a world-class R&D team, that innovates new EV vehicles in the Heavy Vehicle sector. The company has 30% of the market share in the Indian commercial vehicle sector.

Market Cap Rs. 41,399Cr
EPS [TTM]2.15
Dividend Yield0.71%
P/E Ratio TTM65.67
Industry P/E35.13
Debt To Equity3.76
P/B Ratio5.67

Hero MotoCorp Ltd

Hero Motocorp Ltd is the largest two-wheeler manufacturer in the globe as well as in India. The company has a total of 38% of the market share in the Indian two-wheeler industry. In the last year, the company exceeds its production capacity by up to 100 million units per year.

Hero Moocorp Ltd has started a unique brand for the EV two-wheeler sector name VIDA with INR 1.45Laksh Ex-showroom Price, and they aggressively working to introduce new vehicles in the two-wheeler sector in the upcoming days.

Market Cap Rs. 48,583cr
EPS [TTM]130.83
Dividend Yield3.39%
P/E Ratio TTM18.58
Industry P/E15.90
Debt To Equity0.04
P/B Ratio3.07

Olectra GreenTech

Olectra Green Tech Limited is the first Electric Bus manufacturer in India, and the company has two segments of its revenue model, one with e-buses manufacture and products of power insulators. Currently Olectra Green is the leading manufacturer of E-busses in India.

Market Cap Rs. 5,326Cr
EPS [TTM]6.86
Dividend Yield0.06%
P/E Ratio TTM94.54
Industry P/E36.24
Debt To Equity0.10
P/B Ratio6.85

Tata Motors Company Ltd

Tata Motors is a global automobile manufacturing company with a total Market Cap of INR 1,52,376 Cr and the company has strong dominance in the Indian EV four-wheeler segment with a total market share of 70%. The company has launched a wide range of products in the EV four-wheeler segment.

Market Cap Rs.1,52,376Cr
EPS [TTM]11.18
Dividend Yield0.90%
P/E Ratio TTM20.21
Industry P/E13.00
Debt To Equity2.07
P/B Ratio2.07

Reliance Industries Ltd

Reliance Industries Ltd is an Indian multinational company with various business segments like oil, Gas, retail, digital, networking, and many more. Right now the company is heavily investing in new projects based on Electric batteries, and EV vehicles. In the future the company trying to put its strong presence in the EV sector.

Market Cap Rs. 15,77,362Cr
EPS [TTM]93.96
Dividend Yield0.34%
P/E Ratio TTM24.81
Industry P/E5.81
Debt To Equity0.40
P/B Ratio2.02


These are the top companies in the EV vehicle sector, and many companies are investing in EV vehicles. So from a future perspective, investors are deeply looking into EV stocks which have a great opportunity to give you multi-bagger returns.

Also, the government taking so many necessary actions to boost up EV industry in India, and many giving subsidiaries for EV vehicle production and EV vehicle purchase also.


Is EV vehicle share best for long-term investment?

Yes, you can trust EV vehicle shares for good returns in long-term investment.

Which Company is the biggest EV vehicle manufacturer in India?

Tata Motors Ltd is the biggest manufacturer in India, the company holds 70% of the market share in the Indian EV four-wheeler sector.

How can I buy EV vehicle Stocks?

If you have a Demat account first in any of the brokerage apps like Upstox, Zerodha, Paytm, etc. then you can buy EV vehicle shares easily.

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