Shares of electric vehicle and green mobility companies gained sharply in Monday’s trade after Prime Minister Narendra Modi urged citizens to reduce fuel consumption, adopt carpooling and accelerate the shift towards electric vehicles amid rising global energy concerns and pressure on India’s import bill.
Market participants interpreted the remarks as a positive signal for the electric mobility ecosystem, with analysts expecting EV-focused companies to benefit if consumers increasingly move away from petrol and diesel-powered vehicles in response to elevated fuel prices and conservation measures.
Ather Energy shares settled 6 per cent higher at ₹969.45 on the NSE, hitting a 52-week high of ₹989.40 in early trade.
JBM Auto shares closed 5 per cent positive at ₹681.65, hitting an intraday high of ₹697.90 amid broad buying interest in green mobility stocks.
Ola Electric Mobility shares were up over 2 per cent, settling at ₹36.97, hititng a high of ₹37.73.
According to market experts, the government’s renewed push towards fuel conservation and lower dependence on imported crude oil could accelerate adoption of electric mobility solutions over the medium term. India imports a significant portion of its crude oil requirements, making the economy vulnerable to global oil price volatility and geopolitical disruptions.
EV manufacturers, battery ecosystem players and public transport electrification companies could remain in focus if policy support and consumer preference continue shifting towards cleaner mobility alternatives.