Budget 2024: EV stocks rally post Interim Budget announcement

Budget 2024, EV stocks budget: Stocks of companies related to the electric vehicle segment jumped on Thursday, February 1, after Finance Minister Nirmala Sitharaman announced in her Interim Budget 2024 speech that the government will expand the electric vehicle ecosystem to support charging infrastructure and encourage e-buses for public transport networks. In addition, the rooftop solarisation scheme will strengthen EV charging infrastructure.

Zee Business brings you how stocks reacted on Thursday's session.

Olectra Greentech share price

The stock of Olectra Greentech traded 6.21 per cent to reach its 52-week high of Rs 1,849.25 on the BSE. The counter settled at Rs 1,729 down by 0.69 per cent on BSE. 

JBM Auto share price

JBM Auto climbed 4.96 per cent to hit its one-year peak of Rs 2,010.80. The counter ended at Rs 1,963, up by 2.42 per cent or Rs 46.3 on NSE.

Greaves Cotton share price

Greaves Cotton ended 1.01 per cent higher at Rs 165.35 on NSE.

Ashok Leyland share price

Ashok Leyland traded 0.68 per cent or Rs 1.2 lower at Rs 174.7 on NSE.

While EV charging infrastructure-related stocks Tata Power and BHEL traded settled, up 0.01 and down 0.2 per cent, respectively.

Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory.

A biomanufacturing and biofoundry scheme will be launched to provide environment-friendly alternatives for biodegradable production, she added.

(With PTI inputs)