EV Indexes in India: NSE Indices Launches India’s First Electric Vehicle Index
In a press release issued on Thursday, NSE said this is India’s first electric vehicle index. “The new index will serve as a benchmark for asset managers and is expected to become a reference index tracked by passive funds in the form of exchange-traded funds (ETFs), index funds and structured products,” it said.
The index base date is April 2, 2018, the base value is 1000, and the index is reconstituted semiannually and rebalanced quarterly.
Commenting on the development, Mukesh Agarwal, CEO, NSE Indices, said: “Nifty EV & New Age Automotive indices are in line with NSE’s vision of providing innovative indices in line with market trends. “The launch of the Nifty EV & New Age Automotive index will drive product relationships, creating opportunities for asset managers to invest in the electric vehicle and new age automotive markets, thereby providing investment vehicles to investors,” the press release said. .
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