Ola Electric Shares Jump 8.6% Today, Up 64% in a Month on PLI Nod and GST Buzz.

Mumbai, 3 September– Pure-play EV producer Ola Electric has confirmed that it has received certification for compliance with eligibility assessment conditions under the production-linked incentive (PLI) scheme for its Gen 3 scooter portfolio. Following the announcement, the share of the company surged, gaining 8.6% in today’s trading session.

Stock Performance

Shares of Ola Electric Mobility saw an increase of 8.60% today to ₹67.92(5.96% (9.70%) as of 3:00 PM IST, as it continues its recent rally. The stock opened at ₹62.50, reached an intraday high of ₹67.73, and recorded a turnover of ₹439.92 crore with a market capitalization that climbed to ₹29,689.30 crore.

In the last week, the counter gained 31.59%, and in the previous month, it grew 64.70%, making it one of the strongest in the EV complex.

Significant Factors in the Rally

Several positive factors fueled Ola Electric’s rally. The company recently received PLI certification for its Gen 2 and Gen 3 scooters, and importantly, seven models in the S1 Gen 3 series. The approval is expected to be a profitable boost for Ola Electric starting Q2 FY26.

Investor sentiment has also remained strong following the 56th GST Council Meeting, where stakeholder discussions were focused on tax reform. The Council is monitoring potential market catalysts through a reduction in GST rates on EVs and two-wheelers.

Further, there have been reports of Niti Aayog working with suppliers to fast-track the electrification of motorcycles, which added fuel to the fire. This policy push solidifies confidence in faster EV adoption, leading to enhanced market confidence for the sector’s long-term growth potential.

Strategic Outlook

Founder Bhavish Aggarwal reiterated the company’s goal to achieve a 25-30 percent share in India’s EV two-wheeler market, with vertical integration and new product launches as key accelerants to increase profitability and share.

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