The shares of Ola Electric Mobility jumped more than 3 percent on September 15 after Moneycontrol reported that the EV scooter-maker has filed a claim of around Rs 400 crore under the government’s Production Linked Incentive (PLI) scheme for the automobile and auto components sector for FY25.
The claim is based on "eligible sales of around Rs 3,000 crore", translating into an expected incentive of 13–14 percent, sources told Moneycontrol, adding that the payout will likely aid the company’s liquidity and financial performance in the upcoming quarters.
Ola Electric share price history:
The shares of the Bhavish Aggarwal-led company gained nearly 4 percent earlier during the day to hit an intraday high of Rs 61.02 apiece. They later pared some gains to close at Rs 60.79 apiece, extending gains for the second consecutive session.
The stock has seen massive surge recently. After hitting a 52-week low of Rs 39.60 apiece in July this year, the stock sharply gained 54 percent in around two months.
PLI certification for Gen 3 scooters:
Earlier in August, Ola Electric had announced that it has received certification of compliance under the PLI scheme for automobiles and auto components, granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries. The approval covers all seven scooters in Ola’s S1 Gen 3 line-up — including the S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh.
The company noted that both its Gen 2 and Gen 3 scooters are now PLI-certified. With the Gen 3 range accounting for the bulk of Ola’s current sales, management expects the certification to significantly enhance profitability beginning Q2 FY26.
Also read: Our LIVE blog on stock market updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
