The electric vehicle (EV) industry is rapidly growing, and with an increasing number of people buying electric vehicles, it’s evident that the future might be dominated by electric vehicles. Considering this trend, the companies involved in Best EV Penny Stocks in India manufacturing are likely to experience significant growth, leading to an increase in the prices of their shares. Today, we will discuss in detail some of the best EV penny stocks in India.
Table of Contents
Overview of Best EV Penny Stocks in India
1. Bharat Electronics Ltd.
- Current Market Price: ₹185.60
- Market capitalization: ₹1,34,975 crore
- Highlights: Bharat Electronics Limited, established in 1954, stands out as a key player in electronic equipment for both defense and civilian markets. Known for defense communication, radars, and avionics, they’re also diving into the electric vehicle (EV) sector. Offering diverse solutions, including e-governance and cybersecurity, BEL is a dynamic company with a global footprint. Explore their growth potential as they venture into emerging sectors, making them a noteworthy mention among the best EV penny stocks in India.
2. National Aluminium Company Ltd.
- Current Market Price: ₹130.75
- Market capitalization: ₹23,582 crore
- Highlights: Although not directly involved in electric vehicle manufacturing, National Aluminium Company plays a crucial role in the EV sector by supplying lightweight and sturdy aluminum for various components such as chassis, body panels, and battery boxes. Hence, it is on the list of the best EV penny stocks in India.
3. Samvardhana Motherson International Ltd.
- Current Market Price: ₹109.15
- Market capitalization: ₹72575 crore
- Highlights: This global player specializes in crafting and selling automotive components for manufacturers worldwide. Known for their innovative products like mirrors, detection systems, and polymer solutions, they’re not just limited to automotive; they also shine in lighting, electronics, HVAC, logistics, and healthcare. Samvardhana Motherson’s diverse expertise extends to aerospace and industrial solutions, making it a noteworthy contender in the realm of “Best EV Penny Stocks in India.”
4. Jullundur Motor Agency (Delhi) Ltd.
- Current Market Price: ₹94.30
- Market capitalization: ₹198 Core
- Highlights: Jullundur Motor Agency, established in 1927, is a prominent distributor of auto spare parts and petroleum products. While not directly involved in Best EV Penny Stocks in India manufacturing, the company plays a significant role in the automotive industry.
5. Rattanindia Enterprises Ltd.
- Current Market Price: ₹81.55
- Market capitalization: ₹11412 crore
- Highlights: Rattanindia Enterprises operates in various sectors, including power, telecommunications, air travel, infrastructure, real estate, and education. The company is making contributions to the electric vehicle sector through its subsidiaries, particularly in the development of electric and hybrid aircraft; hence, it is one of the best EV penny stocks in India.
6. Wardwizard Innovations & Mobility Ltd.
- Current Market Price: ₹72.37
- Market capitalization: ₹1805 crore
- Highlights: Wardwizard focuses on designing, developing, and manufacturing electric two-wheelers and three-wheelers. The company has seen substantial growth in revenue (1,338% in the last three years) and profit (131% growth). With a debt-to-equity ratio of 0.14, Wardwizard has been making a mark in the Best EV Penny Stocks in India sector.
7. Goldstar Power Ltd.
- Current Market Price: ₹16.25
- Market capitalization: ₹402 crore
- Highlights: Goldstar Power is a major battery manufacturer, producing a variety of batteries, including those for electric vehicles. The company has shown consistent growth in revenue and profit, with a debt-to-equity ratio of 0.54. Hence, it has been included in the list of the best EV penny stocks in India.
List of Best EV Penny Stocks in India in 2024
| EV Stock Names | CMP | Market Cap (in Crore) | PE Ratio | EPS |
| Bharat Electronics | ₹185.60 | ₹134975 | 40.58 | 4.55 |
| National Aluminium Company | ₹130.75 | ₹23582 | 18.53 | 6.93 |
| Samvardhana Motherson | ₹109.15 | ₹72575 | 37.98 | 2.82 |
| Jullundur Motor Agency | ₹94.30 | ₹198 | 7.57 | 11.48 |
| Rattanindia Enterprises | ₹81.55 | ₹11412 | 77.16 | 1.07 |
| Wardwizard Innov | ₹72.37 | ₹1805 | 216.41 | 0.32 |
| Goldstar Power | ₹16.25 | ₹402 | 111.33 | 0.15 |
Note: The above figures have been taken from google finance.
Conclusion
Before investing in any of the above best EV penny stocks in India, it is crucial to conduct thorough research and consult with a financial advisor. Penny stocks can be riskier, but they also carry the potential for higher returns. Always assess your risk tolerance and financial goals before making investment decisions.
Frequently Asked Questions (FAQ)
EV stocks, or electric vehicle stocks, include companies that manufacture electric vehicles, charging stations, batteries, and electric motors. In a larger sense, EV stocks might include mining and semiconductor businesses that manufacture crucial EV components.
You can also invest in electric vehicle batteries and EV charging station stocks in India. Potential for high returns: Electric car stocks in India have the potential to provide investors with good profits.
As a result, carbon emissions from transportation decrease, but electricity consumption and grid pressure increase significantly. By 2040, approximately half of all vehicles on the road will still run on fossil fuels, but all new vehicles sold will be EVs.
According to the Economic Survey 2022–23, India’s electric vehicle (EV) sector is predicted to reach one crore units in annual sales by 2030, creating 5 crore direct and indirect jobs.