Riding high on PLI certification, Ola Electric shares surge to a monthly record, signalling renewed investor confidence despite losses and challenges since its market debut.
Ola Electric Mobility has recently secured Production Linked Incentive (PLI) certification for its third-generation scooter portfolio. Following this, its shares climbed over 5% on Tuesday after the company. According to Mint, the stock hit an intraday high of ₹51.15, extending gains for a second consecutive session.
The certification, confirmed in an exchange filing late on Monday, covers seven Ola S1 Gen 3 scooters, which together account for the bulk of the company’s sales. It makes the firm eligible for incentives of between 13% and 18% of the determined sales value until 2028.
Ola Electric said this will strengthen its cost base and margins, while accelerating its path to profitability. Both its Gen 2 and Gen 3 scooter ranges are now PLI-certified. The incentive is expected to boost earnings from the second quarter of FY26.
Alongside the announcement, the company also introduced new models at its annual Sankalp event, including the S1 Pro Sport, S1 Pro+ (5.2 kWh) and the Roadster X+ powered by its in-house Bharat Cell.
Deliveries are set to begin during Navratri 2025, with some variants launching in January 2026.
The share rally puts Ola Electric on track for its best monthly performance since its August 2024 listing. The stock has gained 23% so far in August, reversing months of bearish sentiment. If sustained, it will mark the company’s biggest monthly advance since debut.
Investor optimism has also been fuelled by founder Bhavish Aggarwal’s ambition to capture up to 30% of India’s two-wheeler EV market through new products and vertical integration.
Despite recent gains, Ola Electric’s shares remain 33% below their IPO price of ₹76 and down 62% from their record high of ₹157. The firm reported a narrower quarterly loss of ₹4.28 billion in June, though revenue fell nearly 50% year-on-year to ₹8.28 billion.
