NSE launches India’s first electric vehicle index
New Delhi, May 31, 2024.
NSE’s index services subsidiary, NSE Indices Limited, on Thursday launched the country's first electric vehicle (EV) index.
The new thematic index is called the Nifty EV & New Age Automotive Index, and will track the performance of companies that are part of the electric vehicle (EV) ecosystem or are involved in developing new-age automotive vehicles or related technology.
"The new 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," said NSE.
The base date for the index is April 2, 2018, and its base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis.
Mukesh Agar...
