Indian electric vehicle (EV) and automobile stocks largely traded mixed on August 29. Some companies saw gains, while others fell into the red.
Amara Raja Energy & Mobility drove the rally in the EV battery sector, increasing 2.34% to ₹990.25, reflecting investor excitement regarding its battery and energy storage businesses. HBL Engineering likewise saw a bump in trading 3.36% higher to ₹807.10, making it one of the top gainers of this session. Olectra Greentech a bus manufacturer saw momentum as well, advancing 2.72% to ₹1,542.20 with overall demand for electric buses rising across the states.
In trading with auto component majors, Bosch gained, up 1.88% to ₹39,960, while Bharat Electronics advanced by 1.53% to ₹369.40, showing steady institutional interest. Exide Industries added 0.58% to ₹396.25, while Uniparts India closed marginally higher at ₹395.25 (0.31%).
On the other hand, several prominent names saw declines. Bharat Forge slipped 1.60% to ₹1,106.70, while Sona Comstar dropped 1.63% to ₹443.05 amid selling pressure. JBM Auto and Ola Electric Mobility Ltd. were both down 1.45%, closing at ₹594.95 and ₹54.05, respectively. Tata Motors followed at minus 0.96% to ₹669, indicative of general profit-taking in the auto counters.
Others to lag this session were HEG (-1.91%), UNO Minda (-1.29%), Minda Corporation (-0.49%), and Greaves Cotton (-0.67%).
We did see the session highlight separating investor sentiment within the EV and auto sector. There was cumulative buying in companies focused on energy storage and other components, and electric buses, while they took profits in legacy automakers and some parts manufacturers. While analysts see this as continued volatility in the near term as the market hesitates with respect to growth and reading signals from the world economy.
TABLE
| Company Name | Closing Price on August 29 | Change % |
| AMARA RAJA ENERGY & MOBILITY | 990.25 | 2.34% |
| BHARAT ELECTRONICS | 369.4 | 1.53% |
| BHARAT FORGE | 1,106.70 | -1.60% |
| BOSCH | 39,960.00 | 1.88% |
| EXICOM TELE-SYSTEMS LTD. | 142.33 | -0.72% |
| EXIDE INDUSTRIES | 396.25 | 0.58% |
| GREAVES COTTON | 198.16 | -0.67% |
| HBL ENGINEERING | 807.1 | 3.36% |
| HEDGE | 462 | -1.91% |
| HERO MOTOCORP | 5,087.70 | -0.08% |
| JBM AUTO | 594.95 | -1.45% |
| MINDA CORPORATION | 498.85 | -0.49% |
| OLA ELECTRIC MOBILITY LTD. | 54.05 | -1.45% |
| OLECTRA GREENTECH | 1,542.20 | 2.72% |
| SONA COMSTAR | 443.05 | -1.63% |
| TATA MOTORS | 669 | -0.96% |
| UNIPARTS INDIA | 395.25 | 0.31% |
| ONE MIND | 1,279.00 | -1.29% |
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