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NSE Arm NSE Indices Launches India’s First EV Index

May 31, 2024

By: BlinkX Research Team

NSE Indices, the index services subsidiary of the National Stock Exchange, launched the EV and new-age automotive index, on Thursday, May 30, to track the performance of companies which form a part of the EV ecosystem or related technology. This would be the country's first-ever electric vehicle index.

Key Takeaways from NSE Indices Launch:

• NSE Indices has launched the EV and new-age automotive index to track the performance of companies which form a part of the EV ecosystem or related technology.
• The company will act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of exchange-traded funds, index funds, and structured products.

The index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of exchange-traded funds, index funds, and structured products.

 Mukesh Agarwal, CEO of NSE Indices commenting on the shift said the launch of the Nifty EV and the new-age automotive index will facilitate the creation of products which will ultimately create an opportunity for asset managers to invest in the electric vehicle and new-age automotive market thereby providing an investment vehicle to investors.

The government has been at the forefront of framing policies related to EV adoption, ensuring the latest technology to be manufactured in the country and attracting investments by global EV manufacturers, thereby boosting Make in India initiative.

About NSE Indices Limited:

NSE Indices Limited formerly known as India Index Services & Products Limited (IISL) is a subsidiary of the National Stock Exchange. It provides a variety of indices and index-related services for the capital markets with a focus on the index as a core product. The company owns and manages a portfolio of indices under the Nifty brand of NSE, including the Nifty 50. The subsidiary company also maintains fixed-income indices based on Government of India securities, corporate bonds, money market instruments and hybrid indices.