Nomura picks 6 stocks with up to 49% upside potential that can benefit from India’s EV push

Nomura has identified six Indian stocks positioned to capitalize on the country's electric vehicle expansion, according to reports. The brokerage indicated that India's EV adoption is approaching an inflection point, supported by rising fuel costs and favorable policy environments. Among the flagged names are Mahindra & Mahindra, TVS Motor, and UNO Minda, which the brokerage identified as key beneficiaries of accelerating electric vehicle demand. The upside potential extends to 49% for some of the highlighted securities, per the announcement.

India's EV transition represents a significant structural shift for the automotive sector, with implications spanning manufacturing, supply chains, and component suppliers. Rising crude oil prices and government incentives aimed at reducing emissions have historically catalyzed adoption cycles in emerging markets. Two-wheeler electrification, in particular, offers substantial volume potential given India's massive motorcycle and scooter market. For traders and investors, EV-related calls reflect confidence in India's long-term energy transition narrative and policy continuity. Nomura's sector selection suggests institutional investors see near-term catalysts—potentially regulatory announcements, subsidy expansions, or quarterly earnings inflection—that could drive outperformance. Investors monitoring India-focused portfolios should track government EV policy announcements, battery technology developments, and quarterly sales metrics from the identified players, as these variables will likely influence sentiment in this thematic trade.

Source: Markets-Economic Times