EV makers added to Nifty Smallcap 250 as Sterling & Wilson exits
Ola Electric and Ather Energy will join the Nifty Smallcap 250 index next month, each expected to attract around $2mn in passive inflows as portfolios are rebalanced.
The additions come despite continued losses. Ola reported revenue of ₹4,514 crore in FY25, down 9.9 per cent, with losses widening to ₹2,276 crore. Ather’s shares recently hit the 20 per cent upper circuit but the company remains unprofitable.
Sterling & Wilson Solar will exit the index, leading to comparable outflows. Project delays and margin pressures have weakened performance.
The index reshuffle underlines contrasting fortunes in India’s clean energy transition: electric vehicle manufacturers gaining institutional acceptance, while a solar engineering contractor loses ground.