Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly

• Investors seem excited about the prospects of electric vehicle component makers ahead of Budget 2022.
• The EV industry has sought a rationalisation in the tax structure and the government’s help in expanding the charging infrastructure.
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Shares of EV component makers like Minda Industries, Sona BLW Precision (earlier known as Sona Comstar) and Greaves Cotton gained in the first hour of trade on February 1 ahead of the commencement of the crucial Budget 2022 session in Parliament.

The sentiment around electric vehicles (EVs) has improved considerably over the past year, with Ather and Ola emerging as the two key companies driving the hype in the consumer segment.


The decline in Tata Motors is likely due to the disappointing performance in the December quarter – it reported a net loss of ₹1,516 crore as against a profit of ₹2,907 crore a year ago. Revenue declined over 4.5% to ₹72,229 crore in the same period.

Here are the top gainers in the auto and auto components suppliers’ space in the first hour of trade today:


Source: NSE, as of 10:15 a.m.

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