Reserve Bank of India – Press Releases
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7 Electric Vehicle Stocks For Investors To Keep An Eye On
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Why there is a hype around Electric Vehecle stocks?
The government has set a goal of achieving 100% electrification by 2030. Given the early phases of adoption that we are currently in, this is a massive goal.
All three-wheelers will be battery-powered by 2023, and the majority of two-wheelers will be battery-powered by 2025. With the Indian government’s increased focus on green mobility, it’s reasonable to expect the electric vehicle industry to develop and India’s electric vehicle fleet to expand. Because of India’s EV market’s widespread acceptance and expansion, the year 2021 can be regarded the best time to invest in electric vehicle stocks in India.
Mahindra & Mahindra Limited
In India, Mahindra is a pioneer in the field of electric vehicles. Its first EV, the Mahindra Reva, was introduced in 2001, making it the first significant EV manufacturer. With the EV manufacturing unit in Bangalore, it has expanded beyond consumer and business demands to include a wide range of other market categories. Mahindra & Mahindra Limited is expected to handle future expansion within the electric vehicle sector, particularly in terms of battery development.
The Mahindra e2o and Mahindra e2o Plus are two new compact urban electric car models from Mahindra.
The stock returned -2.33 percent over a three-year period, compared to 58.78 percent for the Nifty 100 index.
- Market Cap (Rs. in Cr.): 104788.70
- Earning Per Share: Rs. 8.14
- Price To Earnings Ratio: 103.53
Tata Motors
Tata Motors has created ZAPTRON, a unique technology that creates power through kinetic braking and recharges the battery while the car is in motion.
Tata Motors now offers three hybrid vehicles: the Tigor electric car, Nano electric vehicle, and Tiago electric vehicle. As it expands its R&D globally and in India, it is expected to dominate the EV industry. Apart from autos, Tata Motors also produces a large number of heavy-duty electric buses, dump trucks, and military vehicles in India.
For the past three years, the company has posted a negative return on investment (ROI). Over a three-year period, the stock returned 45.32 percent, while the Nifty Auto provided investors a 9.7 percent return.
- Market Cap (Rs. in Cr.): 114567.22
- Earning Per Share: Rs.-4.59
- Price To Earnings Ratio: 0.00
Greaves Cotton
Greaves Cotton announced a move into the multi-brand EV retail space, which it expects to be a significant contribution to both the top and bottom lines. It’s the only multi-brand EV store in the area, and it’s a natural extension of the company’s high-end engine expertise. GCL has a market share of 60-65 percent in the 3W diesel engine segment. Over 30 Indian original equipment manufacturers rely on GCL engines (OEMs)
Only 3.63 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned 6.34 percent over three years, compared to 76.83 percent for the Nifty Smallcap 100.
- Market Cap (Rs. in Cr.): 3204.53
- Earning Per Share: Rs 1.21
- Price To Earnings Ratio: 114.08
Minda Corp
The N.K. Minda Group’s flagship company, Minda Industries Limited, is one of India’s most versatile auto component producers. It is a tier-1 supplier of patented automotive solutions to OEMs and a technical leader in the automotive components business. Minda has engineering, R&D, and production facilities in Manesar, Pune, and Sonepat, and is headquartered in Manesar, Haryana. It is the first car component producer to supply electric vehicle manufacturers. It has already received orders to offer electric vehicle mobility components. It is primarily focused on R&D and has a prestigious roster of electric vehicle clients.
Only 3.63 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned 6.34 percent over three years, compared to 76.83 percent for the Nifty Smallcap 100.
- Market Cap (Rs. in Cr.): 3213.23
- Earning Per Share: Rs 4.76
- Price To Earnings Ratio: 28.22
Ashok Leyland
India’s leading maker of electric buses, vehicles, and security equipment is Ashok Leyland. It has created the world’s first flash-charged electric bus.
It allows heavy-duty electric vehicles to fit on Indian highways, making it suitable for them. Ashok Leyland’s historic debuts include Circuit, Circuit S, and HYBUS, to name a few. With ABB TOSA technology, Ashok Leyland will disrupt the heavy electric vehicle industry in India.
Only 3.09 percent of trading sessions in the last 16 years had intraday drops of more than 5%. Over a three-year period, the stock returned 8.82 percent, compared to 9.7 percent for the Nifty Auto Index.
- Market Cap (Rs. in Cr.): 38807.67
- Earning Per Share: Rs -0.71
- Price To Earnings Ratio: 0.00
Bharat Forge
Bharat Forge has launched a new firm called Kalyani Powertrain to focus on its electric vehicle sector. In the last year, the company’s stock has increased by 65 percent.
Furthermore, it intends to manufacture electric two- and three-wheelers with the support of Tork Motors, a Pune-based electric motorcycle startup in which Bharat Forge owns a 49 percent stake. In 2022, the first model is expected to hit the market.
Only 2.53 percent of trading sessions in the last 16 years had intraday gains of more than 5%. In comparison to the Nifty 100, which returned 58.78 percent over three years, the stock returned 16.31%.
- Market Cap (Rs. in Cr.): 33641.11
- Earning Per Share: Rs 11.49
- Price To Earnings Ratio: 62.87
Exide Industries
Exide Industries specializes in the manufacture of storage batteries and related items. A subsidiary of the corporation, Exide Life Insurance Company Ltd (ELI), provides life insurance to customers through a number of channels, such as individual agents, corporate agents, banks, and so on.
Storage Batteries Segment: The company is India’s largest storage battery manufacturer, with a monopoly on virtually every category in the automotive, industrial, and submarine industries.
Only 2.38 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned -31.96 percent over three years, compared to 75.85 percent for the Nifty Midcap 100.
- Market Cap (Rs. in Cr.): 15380.75
- Earning Per Share: Rs 9.88
- Price To Earnings Ratio: 18.32
Other EV related stocks
Himadri Speciality Chemical, Hindalco Industries, Hindustan Copper, and JBM Auto Ltd are some of the EV-related stocks. These stocks represent the EV potential and are direct and indirect beneficiaries. Before making any investments, it is wise to consult with your experts.
Disclaimer
Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.
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Ahead of festive season, banks slash interest rate on home loans. Get the details here, BFSI News, ET BFSI
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Ahead of the festive season, many top banks have announced offers and discounts on home loans.
State Bank of India (SBI), ICICI Bank, Punjab National Bank (PNB), Kotak Mahindra, Bank of Baroda (BoB) and Yes Bank are among the banks offering home loans at attractive rates.
The offer is for a limited time period.
| Bank | Women | Others | Effective Rate of Interest | Offer valid upto |
| SBI | – | – | 6.70% onwards | – |
| ICICI Bank | – | – | 6.70% onwards | – |
| Yes Bank | 6.65% onwards (salaried) | – | 6.70% onwards | 1-Oct to 31 Dec 2021 |
| Kotak Mahindra Bank | – | – | 6.50% onwards | 10-Sep to 8-Nov-21 |
| Punjab National Bank | – | – | 6.60% onwards |
Source: Official Websites
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Ahead of festive season, banks slash interest rate on home loans. Get the details here, BFSI News, ET BFSI
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Read More/Less
Ahead of the festive season, many top banks have announced offers and discounts on home loans.
State Bank of India (SBI), ICICI Bank, Punjab National Bank (PNB), Kotak Mahindra, Bank of Baroda (BoB) and Yes Bank are among the banks offering home loans at attractive rates.
The offer is for a limited time period.
| Bank | Women | Others | Effective Rate of Interest |
| SBI | – | – | 6.70% onwards |
| ICICI Bank | – | – | 6.70% onwards |
| Yes Bank | 6.65% onwards (salaried) | – | 6.70% onwards |
| Kotak Mahindra Bank | – | – | 6.50% onwards |
| Punjab National Bank | – | – | 6.60% onwards |
Source: Official Websites
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Banks’ credit growth gradual in August, industry weakest link, says ICICI Sec, BFSI News, ET BFSI
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The overall credit growth of banks in August has been gradual from July, with signs of improvement only in pockets, ICICI Securities said in a report.
Industry credit continues to be the weakest link, dragging overall credit growth.
The industry, which comprises 29.2% of total non-food credit, was down 0.2% on month. Under-utilisation of existing sanction limits, modest demand outlook and run-down of exposure in few sectors were among the key factors, the brokerage said.
However, the brokerage expects industry credit to revive in the near future, given economic recovery from the COVID-19 crisis.
“We believe India Inc is now better positioned and confident to anvil on the path of re-leveraging. Indian financiers, too, have saddled themselves with ample liquidity to tap the emerging opportunity. Recovery in economic activity and the derivative effect of increased investments and corporate, government spending on consumption will sustain the momentum of more than 15% growth over FY22-FY25,” ICICI Securities said.
Also read: Banks’ credit outlook ‘stable’ for FY22, says Crisil Ratings
Credit extended for home loans has stayed put since March, up 0.8% year-to-date, while vehicle loans moderated to a 1% month-on-month accretion and is likely to pick up during the festive season.
Other personal loans also saw a strong momentum, up 18% on year.
With gradual easing of COVID-19 restrictions, credit card portfolio sales have risen 3.9% on month and 10.3% on year, witnessing the quickest recovery as business activity levels revived, the brokerage said.
Credit to non-food sectors was up a mere 0.5% on month and 6.7% on year, with agri and retail being the main drivers.
Retail credit is sustaining double-digit growth, but has not been robust, despite relaxation of COVID curbs, the brokerage said. The growth in retail credit was primarily due to the traction in vehicle and personal loans, and credit card sales.
Roads, airports, railways, iron and steel, cement, telecom and sugar are among the key sectors that are continuously deleveraging, the brokerage said.
“We believe industry growth will have to emerge as a key driver to boost credit growth in coming years. While it may happen with some lag, revival in consumer demand and rise in government spending can be potential triggers,” the brokerage said.
Credit to micro, small and medium enterprises was up 4% on month and 63% on year, the brokerage noted.
Lending to housing finance companies was up 21% on month, while loans to public public financial institutions was down 1% on year. After running down high risk assets, NBFCs are now pursuing growth opportunities in a risk-calibrated manner, the brokerage said, adding that now bank lending to NBFCs should stabilise.
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ICICI Bank 2nd in card spends, ahead of SBI, BFSI News, ET BFSI
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ICICI Bank has overtaken SBI in credit card spends in August taking the number two spot after HDFC Bank. According to RBI data, ICICI Bank had a market share of 19.6% in August 2020 up from 15.8% in August 2020. SBI Card’s market share in spends, slipped to 18.7% in August 2021 from 20% in the previous year.
In absolute terms, total spending through credit cards in August 2021 was Rs 77,733 crore, up 54% from Rs 50,319 crore in August 2020. The overall number of cards in force has increased from 5.8 crore to 6.4 crore in the same period.
“Looking at total spends, since November 2020, ICICI has gained around 510 basis points market share, while HDFC Bank and SBI cards have lost around 285bps and 90bps market share, respectively. ICICI Bank’s total spends for July 2021 was equal to that of SBI cards despite ICICI Bank’s market share (based on outstanding cards) being lower than that of SBI Cards. We believe, ICICI’s co-branded card with Amazon (1.6 millon as of March 2021), which forms more than 50% of incremental card additions, has helped it to scale up its credit card business in a significant way,” said Suresh Ganapathy, an analyst with Macquarie research.
To boost credit card spending, HDFC Bank on Tuesday launched its Festive Treats 3.0 campaign, which will provide offers on cards, loans and EMIs. The bank has partnered with over 10,000 merchants across 100 locations as it expects customers to return to offline shopping following a dip in Covid cases and increased pace of vaccinations. “This year we have come out with more offline offers including hyperlocal merchants. We will use our ATM platform to inform customers about the offers around their location,” said Parag Rao, group head (payments, consumer finance, digital banking and IT).
HDFC Bank continues to be the market leader with 26.5% of total credit card spending in India. However, the bank’s share has fallen from August 2021, when it accounted for 28.7% of the total spend. Sequentially, HDFC Bank had seen a dip in credit cards in force as the RBI ban was still in force for most of the month. Since the ban was lifted the bank had added four lakh credit cards to its base of 1.47 crore cards as of August 2021.
The biggest loser in terms of share of spending is Citibank, which led the ranking in terms of card spend for many years. The multinational, which had a 7.8% share of spends in 2020 now accounts for 4.9% of spending. IDFC First Bank, a relatively late entrant, has managed to make a dent by increasing its share of card spend to over 1%. American Express is the only multinational bank to grow its share of spending from a year-ago period. However, the US issuer also faces an embargo on issuing new cards until it complies with data localization norms, which is likely to hit growth.
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BSE Tech gets RBI in-principle nod to set up, operate Trade Receivables Discounting System, BFSI News, ET BFSI
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Leading bourse BSE on Tuesday said its arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS). The TReDS business of BSE will commence only after the receipt of final approval and certificate of license from the RBI, as per a release.
TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.
These receivables can be due from corporates and other buyers. The TReDS platform will bring all the participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices/bills of MSMEs, the release added.
“With the in-principle authorisation provided by RBI to set up TReDS, BSE Tech will now have the capability to provide an option to MSME to manage their working capital more efficiently through the TReDS platform,” said Ashishkumar Chauhan, MD and CEO of BSE.
BSE Technologies works for e-enabling the businesses in financial services sectors and is a provider of IT solutions with a focus on commodities, banking and financial services markets in India. PTI SRS BAL BAL
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BSE Tech gets RBI in-principle nod to set up, operate Trade Receivables Discounting System, BFSI News, ET BFSI
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Leading bourse BSE on Tuesday said its arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS). The TReDS business of BSE will commence only after the receipt of final approval and certificate of license from the RBI, as per a release.
TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.
These receivables can be due from corporates and other buyers. The TReDS platform will bring all the participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices/bills of MSMEs, the release added.
“With the in-principle authorisation provided by RBI to set up TReDS, BSE Tech will now have the capability to provide an option to MSME to manage their working capital more efficiently through the TReDS platform,” said Ashishkumar Chauhan, MD and CEO of BSE.
BSE Technologies works for e-enabling the businesses in financial services sectors and is a provider of IT solutions with a focus on commodities, banking and financial services markets in India. PTI SRS BAL BAL
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US-based Arena Investors evinced interest to acquire Srei before RBI took control, BFSI News, ET BFSI
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Arena Investors, a US-based company, had proposed to buy 74% in Srei Equipment Finance, a wholly owned subsidiary of Srei Infrastructure Finance for about Rs 2,000 crore before the Reserve Bank of India (RBI) took control of the non-bank lender on Monday, two people familiar with the matter told ET.
The Srei group had forwarded the proposal to RBI for a review a couple of months ago, the executives said. Arena is an institutional asset manager that provides solutions for those seeking capital in special situations
Singapore-based Makara Capital Partners had also proposed to bring in about Rs 2,200 crore.
ET had sent mails to both Arena and Makara last Saturday on the matter but both companies didn’t respond until Tuesday evening.
Srei’s board of directors and the strategic coordination committee for capital raising, chaired by an independent director, had accepted the proposals and sent them to the regulator for approval, Srei Infrastrcuture’s former chairman Hemant Kanoria said Tuesday.
It is not clear at this juncture if RBI finds Arena or Makara fit enough to acquire Srei, a lender to the country’s core sector, or if it prefers a domestic company to take over Srei. RBI has initiated steps to move Srei to the bankruptcy court so that lenders and bond holders can recover their money from Srei. Their cumulative exposure is in the vicinity of Rs 31,000 crore.
As many as 11 investors had evinced interest in Srei, while Arena and Makara submitted non-binding terms sheets to the non-bank lender.
Some of those included Varde Partners, Sumitomo Mitsui Banking Corporation (SMBC) and Apollo Global. They could not be contacted immediately for comments.
The group had approached the National Company Law Tribunal (NCLT) with a repayment scheme aligned to inflows for all its creditors. The scheme had proposed to pay full dues to all creditors in a structured manner. A majority of the lenders did not accept the scheme.
After the scheme was filed in October 2020, banks led by Uco Bank took control of the company’s cash flow. Since November last year, banks have recovered about Rs 3,000 crore.
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Canara Bank cuts MCLR by up to 15 basis points, BFSI News, ET BFSI
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State-owned Canara Bank on Tuesday announced an up to 15 basis points cut in its marginal cost of funds based lending rate (MCLR). The bank has decided to reduce the MCLR for one-year tenor by 10 basis points to 7.25 per cent effective from October 7, Canara Bank said in a regulatory filing.
Most of the consumer loans such as personal, auto and home are priced on the basis of the one-year MCLR.
The bank has lowered MCLR on overnight and one-month tenors by 0.15 per cent to 6.55 per cent.
Meanwhile, DCB Bank also reduced its MCLR by 0.05 per cent across tenors, effective from October 6.
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