NSE Indices launches Electric Vehicle Index • EVreporter

NSE Indices Limited, NSE Indices Limited’s index services subsidiary, has launched a new thematic index: the Nifty EV & New Age Automotive index. The Nifty EV & New Age Automotive index aims to track the performance of companies that are part of the EV ecosystem or are involved in developing new-age automotive vehicles or related technology.

The base date for the index is April 02, 2018, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis. 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.

Mr Mukesh Agarwal, CEO of NSE Indices, said, “The Nifty EV & New Age Automotive India’s first ever Electric Vehicle Index aligns with NSE’s vision to provide innovative indices in line with market trends. The launch of the Nifty EV & New Age Automotive index will facilitate the creation of products, which will create an opportunity for asset managers to invest in electric vehicles and the new age automotive market, thereby providing investment vehicles to investors.”

NSE Indices Limited (formerly known as India Index Services & Products Ltd. – IISL), a subsidiary of NSE, provides a variety of indices and index-related services for the capital markets. The company focuses on the index as a core product. The company owns and manages a portfolio of indices under the Nifty brand of NSE, including the flagship index, the Nifty 50.