Noida, May 11 (APAC Media): Shares of electric vehicle (EV)-linked companies rallied up to 7% in Monday’s trade after Prime Minister Narendra Modi reiterated the government’s focus on accelerating the transition toward electric mobility and reducing dependence on fossil fuels.
The buying interest was seen across the EV ecosystem, with stocks such as Ather Energy, JBM Auto, Olectra Greentech, Tata Motors and others witnessing strong upward momentum during intraday trading.
The rally was driven by renewed policy optimism and expectations of sustained government support for clean transportation initiatives.
“India must rapidly scale up the adoption of electric mobility as part of its broader clean energy and sustainability goals. The shift towards electric vehicles is crucial for reducing pollution, strengthening energy security, and driving innovation in the automotive sector.” – Prime Minister Narendra Modi.
Following the comments, sentiment improved in auto ancillary and EV manufacturing stocks, with investors betting on increased demand for electric two-wheelers, buses, and commercial EV fleets.
Market participants said policy signals of this nature typically act as short-term triggers for the sector, which remains sensitive to regulatory and infrastructure developments.
JBM Auto and Olectra Greentech were among the notable gainers, supported by expectations of higher orders for electric buses from state transport undertakings. Ather Energy also saw buying interest amid continued optimism around urban EV adoption and expanding charging infrastructure.
Analysts noted that although EV stocks continue to experience high volatility, the long-term growth outlook remains underpinned by declining battery costs, better range efficiency, and growing policy support from both central and state governments.
The EV segment continues to be a closely tracked thematic space in Indian equity markets, with investors reacting sharply to developments related to policy direction, subsidies, and infrastructure expansion.
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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