Top EV Battery Stocks in India (2026) - Latest Price, Returns and Insights

Introduction to EV Battery Stocks in India

By 2026, the Indian electric vehicle (EV) sector is predicted to encounter extensive growth. The expansion is aided by the government, increasing awareness of the Indian citizenry towards the environment, and technological advancement within the ecosystem. Because of these factors, EV battery stock investments seem to be a viable option. Investors are looking for promising returns in EV India stocks, focusing on lithium battery stocks and electric vehicle shares. 

India's projected revenue by 2030 is approximately $100 billion. The EV industry is predicted to grow at 38% (CAGR) from 2025, which suggests that the EV sector 2026 presents a growing opportunity. This opportunity is a result of the increasing charging infrastructure, support subsidies (FAME III), and a shift towards clean mobility, which is in turn supported by Green Energy Stocks.

This blog will attempt to analyse the ev battery stocks in India for 2026 and their updated prices, historical returns, and insights. Trading in the electric vehicle shares market can help seasoned investors and newcomers to the market, understand how to invest in India's evolving and redefining market. Companies like these will help understand the need and supply for lithium-ion batteries, utilised in EVs and industrial applications, and are also used to store renewable energy.

 

 

Overview of India 2026 EV Sector

India’s EV market will soon become one of the largest globally by 2030 (as per estimates). The production of electric passenger vehicles is anticipated to reach 1.33 million units. This is expected to account for approximately 20 % of the total passenger vehicle production. 2026 is expected to show continued growth for the sector with EV penetration in the passenger vehicle segment expected to reach 6-7 % by FY28. 

This is a notable growth from 2024, which is slated to only capture 2.5 % of the segment. This growth will be driven by the introduction of more affordable vehicles, improved financing, and an expanded network of vehicle charging stations.

Key drivers involve government initiatives targeting a 30% EV market share by 2030, focusing primarily on two- and three-wheelers. The battery segment remains especially critical due to batteries comprising 40%-50% of an EV's total cost. An example, Lithium battery stocks thrive as domestic manufacturing investments look to minimise reliance on Chinese imports. EV stocks indiais a long-term play on battery production, materials, and recycling.

Supply chain disruptions, raw material volatility, and high upfront costs are all challenges in the production of batteries. Regardless, the potential for an annual 17m units of sales makes the outlook on EV sales positive for 2030. Green energy stocks in the EV segment thus incorporate technology, manufacturing, and sustainability for a diversified investment.

Anticipated Top EV Battery Stocks in India for 2026

Exide Industries Ltd. is a reputable player in ev battery stocks and lithium-ion technologies. As of early February 2026, we will also provide you with the latest pricing, returns, and reports data sourced from credible financial services to provide instant insights and inform your stock selection. Beyond market position and innovation, this list is tailored to ev sector 2026 alignment. 

1. Exide Industries Ltd.

Exide Industries has become one of the most prominent ev battery stocks with its long history in manufacturing batteries in India. As the largest manufacturer of lead-acid batteries in India, the company is now switching aggressively to lithium-ion batteries, making it one of the most important companies in potential electric vehicle shares. 

- Latest Price: ₹332.65

- Market Cap: ₹28,275 Cr

- 1-Year Return: -12.04% 

- 5-Year Return: Approximately 55% (historical trends) 

- PE Ratio: 34.22

Insights: Market volatility and rising input cost growth have contributed to Exide's net profit growth decreasing during the December 2025 quarter. However, net profit has been positive. Exide's role in lithium-ion batteries for Tata Motors and Mahindra, and soon for other Tier 1 and Tier 2 customers, is significant and positive for the company. Exide's lithium-ion cell manufacturing plant in Bangalore has started its contracted production run for battery cells.

Reviewing Exide's 2026 forecast brings optimism as they carry no debt, and their cash reserves are above ₹500 Cr. Analysts are giving a "Hold" rating with targets in ₹350-368. Analysts expect revenue growth in the solar and EV sectors due to GST changes. As EV stocks India develop, Exide, concentrating on energy storage, will provide multibagger opportunities to long-term investors.

2. Amara Raja Energy & Mobility Ltd.

The rebranding from Amara Raja Batteries is targeted to highlight its focus on energy solutions and position it distinctly in lithium battery stocks. Amara Raja is the market leader in automotive and industrial batteries, in addition to the expanding EV portfolio.

- Latest Price: ₹862.30

- Market Cap: ₹15,782 Cr

- 1-Year Return: ~10-15% (derived from sector homologs; recent data not available, but trends suggest stability)

- 5-Year Return: Over 100% (well-established growth)

- PE Ratio: 16.95

Insights: Amara Raja is a significant player in the electric vehicle (EV) sector due to its advanced chemistry cells and energy storage systems. In AMARA RAJA, the PAT in FY24 is expected to grow by 27.85%, which will help to provide an ROI of 19.81% to its shareholders. The company has global partnerships, with Johnson Controls enhancing its lithium-ion technology for EVs and renewables.

Future expansion for Amara Raja in 2026 looks promising as they venture into constructing gigafactories for lithium-ion battery production. As India's EV market is anticipated to grow for the second time, demand for this green energy stock will likely increase as demand for two-wheelers and passenger vehicles will increase. Analysts, for their diversified portfolio and low debt, have placed Amara Raja as one of the leaders to succeed in the ev sector 2026.

3. HBL Power Systems Ltd.

A model for niche market segments, HBL Power Systems is a successful niche segment in specialised batteries, sparking their spot among the top ev battery stocks due to their niche in lithium and other smart batteries.

- Latest Price: ₹779.55

- Market Cap: ₹21,751 Cr

- 1-Year Return: 36.07%

- 5-Year Return: Over 2000% (exceptionally strong growth over the long-term)

- PE Ratio: 33.98

Insights: HBL’s net income growth has averaged 60.23% over a five-year span, clearly above the industry benchmark. For EV batteries, HBL manufactures and supplies lithium, nickel-cadmium, and lead-acid batteries for telecom, railways, and, in the future, EVs. Recent Q2 FY2026 results showed a 343.81% YoY net profit growth.

In 2026 HBL’s growth prospects improve with a recent ₹575 Cr purchase order in the railway tech sector, coupled with the budget’s focus on infrastructure spending. HBL’s (1.2x) Nifty Underperformance, coupled with volatility (4.47x Nifty), warrants caution; however, with EV stocks in India, coupled with HBL’s high growth and financial stability, HBL is an attractive investment option.

 

 

4. Eveready Industries India Ltd.

Eveready, diversifying its business from consumer batteries into the industrial and EV segments, makes Eveready an interesting case for lithium battery stocks.

Current Price: ₹341.30

Market Capitalisation: ₹2,481 Cr

1-Year Stock Performance: Approximately -0.36%

5-Year Stock Performance: Around 10%

PE Ratio: 30.42

Insights: Eveready's focus on batteries for solar and UPS systems is also serving the EV ecosystem indirectly by providing energy storage. Eveready is also positioned for growth in portable power solutions by virtue of its market share in dry cells.

Eveready’s foray into lithium-ion batteries in 2026 is likely to provide decent returns, especially with the EV sector progressively expanding to renewables. Eveready is a small-cap green energy stock with decent upside potential with growing EV adoption.

5. Tata Chemicals Ltd.

Tata Chemicals’ provision of lithium compounds and battery recycling also solidifies its prospects in ev battery stocks.

- Most Recent Price: Close to ₹700 (last estimates; market cap ₹17,948 Cr)

- Annual Return: Fluctuated; roughly -6%

- Five-Year Return: More than 50%

- PE: 99.65

Observations: It provides soda ash and other chemicals for the manufacturing of batteries as a member of the Tata Group. It contributes to the development of sustainable materials and lithium resources for EV batteries.

Prospects for 2026: This stock may benefit from integrated supply chains as a result of Tata's EV ecosystem, which includes Tata Motors. In erratic markets, it is a defensive electric vehicle share.

 

Company Name	Latest Price (₹)	Market Cap (₹ Cr)	1-Year Return (%)	5-Year Return (%)	PE Ratio
Exide Industries	332.65	28,275	-12.04	~55	34.22
Amara Raja Energy & Mobility	862.30	15,782	~12	>100	16.95
HBL Power Systems	779.55	21,751	36.07	>2000	33.98
Eveready Industries	341.30	2,481	-0.36	~10	30.42
Tata Chemicals	~700	17,948	-6	>50	99.65

 

The table below illustrates some of the variety of EV-related investments in India, from high-growth small-cap companies like HBL to more established companies like Exide.

EV Battery Stocks in India in 2026 - Risks and Considerations

The investment opportunity provided by EV battery stocks is promising due to large and changing markets, but challenges include rising prices of raw materials such as lithium, competition from overseas markets, changes in EV-related public policy, and poorly coordinated supply chain arrangements as influenced by world geopolitical conditions. Investing in diversified green energy stocks will mitigate these challenges.

 

 

Conclusion: Why Betting on EV Stocks in 2026 is a Good Idea

If companies like Exide, Amara Raja, and HBL are investing in innovation, so should other active investors. As India's EV-related investments partner with other countries to support the global sustainability initiative, the return on investment will become a positive cash flow. As always, investors should perform their due diligence and consult a certified investment professional.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.