Nifty EV New Age Auto Index: EV stocks: Quiet transformation continues; look at not-so-obvious names. 8 stocks with an upside potential of up to 34%
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Synopsis Around the same time last year, everyone was talking of how EVs would change the automobile industry. Then came the post-IPO performance of Ola, leading to an expectation reset on the street. Now, the question: Does Ola’s performance after listing and the controversies over its business model impact the transformation that EVs are bringing about? The answer is no. Unfortunately, though, when a marquee player like Ola is hit, other players who, in fact, have bigger stakes in the whole EV ecosystem, are also impacted. So, ensure that you don’t end up selling good stocks without rhyme or reason. When a sector goes through a transformation, there are some very visible companies which emerge as flagbearers. Then there are some that do not immediately come to mind as far as the sector is concerned, but are, in fact, impacted positively by the change. On the face of it, the EV ecosystem is about auto and auto ancillary companies. But th...