 "Analysts prefer auto ancillary stocks over OEMs as states push EV policies")
Maharashtra on Tuesday joined Gujarat, Delhi, Himachal Pradesh, and Telangana and announced an Rs 930 crore electric vehicle (EV) policy. The development triggered an up move in auto ancillary stocks, especially battery makers on Wednesday that moved up between 2 per cent and 13 per cent at the bourses.
Going forward, as more and more states warm up to the idea of promoting EVs and related infra, coupled with a preference for personal mobility, the transition from incumbent ICE (internal combustion engine) vehicles to EVs will hasten, believe analysts. This, they say, will keep investor interest alive in the related
