NSE Indices launches India's first EV index

May 30, 2024 18:49

Pic: Toby Melville/Reuters

NSE Indices Ltd, a subsidiary of the National Stock Exchange, on Thursday launched the EV and new-age automotive index to track the performance of companies which form a part of the EV ecosystem.

This would be the country's first ever electric vehicle (EV) index.

"The launch of the Nifty EV and new-age automotive index will facilitate creation of products which will create opportunity for asset managers to invest in the electric vehicle and new-age automotive market thereby providing an investment vehicle to investors," NSE Indices said in a statement.

The base date for the new thematic index is April 2, 2018, and the base value is 1,000.

The index will be reconstituted semi-annually and rebalanced on a quarterly basis.

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 (ETFs), index funds and structured products.

« Back to LIVE

TOP STORIES

Stopped from speaking, Mamata storms out of Niti Aayog meet

Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations.

Manu Bhaker only bright spot on dismal day for India's shooters

Indian shooters eliminated in qualification of 10m air rifle mixed event

Maha family carries injured man on cot for 14 km to hospital

The rural hospital at Bhamragadh in the district, bordering Chhattisgarh, is about 14 km from the village.

Paris 2024 Olympics: Medals Table

The medal tally at the 2024 Olympic Games in Paris.

In-form Indian archers at touching distance from Olympic medal

India will take on the winners of France and the Netherlands in women's team quarter-finals on Sunday; Men's team most fancied