Shares of Ola Electric Mobility Ltd. continued their upward momentum on Thursday, August 28, rising as much as 10%, following a 5% gain on Tuesday. By mid-day, trading volumes had surged, with around 62 crore shares changing hands—significantly above the 20-day average of 15.5 crore.
The rally was driven by the company’s recent announcement that it secured Production-Linked Incentive (PLI) certification for its Gen 3 scooter lineup. All seven models in the S1 Gen 3 range received certification, which is notable as these scooters contribute to 56% of Ola Electric’s total volumes. With both Gen 2 and Gen 3 models now certified, Ola becomes eligible for incentives ranging from 13% to 18% of sales value until 2028.
Ola Electric expects this development to boost profitability starting from Q2FY26. A company spokesperson said the certification would help the firm reach EBITDA-positive status while offering high-quality EVs at competitive prices.
In Q1FY26, Ola reported a narrower sequential net loss despite a year-on-year decline in revenue. Of the six brokerages tracking the stock, two recommend a ‘Buy’, two a ‘Sell’, and two are ‘Neutral’.
