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Electric Vehicle Index
Context:
India’s first electric vehicle index launched by NSE Indices.
More on news:
- NSE Indices Ltd, a subsidiary of the National Stock Exchange, launched the first-ever electric vehicle (EV) index in the country.
- The new index is named the Nifty EV and new-age automotive index.
- It aims to track the performance of companies within the EV ecosystem.
- It will facilitate the creation of investment products, providing asset managers with opportunities to invest in the EV and new-age automotive market.
- Provides an investment vehicle for investors interested in the EV sector.
Index Details:
- Base Information
- Base date: April 2, 2018.
- Base value: 1,000.
- Reconstitution and Rebalancing
- The index will be reconstituted semi-annually.
- It will be rebalanced on a quarterly basis.
- Expected Impact
-
- The index is expected to act as a benchmark for asset managers.
- It will serve as a reference index tracked by passive funds, including Exchange Traded Funds (ETFs), index funds, and structured products.
Government Support and Policy Initiatives:
- The government has been proactive in framing policies to promote EV adoption.
- These policies aim to encourage the manufacturing of EVs with the latest technology in India.
- They also aim to attract investments from global EV manufacturers, supporting the Make in India initiative.
About National Stock Exchange of India Limited (NSE) :
- It is the country’s premier financial exchange, Established in 1992,
- it has transformed into a sophisticated, automated, electronic platform providing trading opportunities to investors nationwide.
- Headquartered in Mumbai.
- NSE was the first stock exchange in India to introduce electronic trading.
- This innovation facilitated the integration of investors from all corners of the country onto a unified platform.