Ola Electric Share Price Jumps 5% After PLI Certification, Stock on Track for Strongest Monthly Gain Since Listing

Market Performance

Ola Electric shares began Tuesday’s session on a strong footing, continuing their rally for the second consecutive day. Shares of Ola Electric Mobility surged 5.3% intraday, touching a day’s high of ₹51.15 per share.

With this move, the stock is heading towards its biggest monthly gain since listing in August 2024. The recovery has been sharp, especially after weeks of bearish sentiment. So far in August, Ola Electric has gained nearly 23%, signaling renewed investor confidence.

Main News – Boost From PLI Certification

The sharp uptick in Ola Electric’s share price came after the company secured PLI (Production Linked Incentive) certification for its Gen 3 scooter portfolio.

In a late Monday exchange filing, Ola Electric announced that its scooters had cleared the eligibility criteria under the PLI scheme for automobiles and auto components.

Here’s why this matters:

• The certification covers all seven Ola S1 Gen 3 scooters.
• These scooters represent the majority of the company’s sales.
• The scheme makes Ola Electric eligible for 13%–18% incentives on sales value until 2028.

This development strengthens Ola Electric’s cost structure and provides a pathway to improve margins in the coming quarters.

Company Details – Gen 2 & Gen 3 Now Certified

With the latest approval, both Gen 2 and Gen 3 scooter portfolios of Ola Electric are PLI-certified.

The Gen 3 lineup includes:

• S1 Pro 3 kWh
• S1 Pro 4 kWh
• S1 Pro+ 4 kWh
• S1 X 2 kWh
• S1 X 3 kWh
• S1 X 4 kWh
• S1 X+ 4 kWh

Together, these account for the lion’s share of Ola Electric’s sales.

New Product Launches

At its annual ‘Sankalp’ event, the company also unveiled new models powered by advanced batteries:

• S1 Pro Sport (5.2 kWh & 4 kWh variants)
• S1 Pro+ (5.2 kWh)
• Roadster X+ (9.1 kWh, powered by 4680 Bharat Cell)

Delivery timelines announced:

• S1 Pro Sport – January 2026
• S1 Pro+ 5.2 kWh – Navratri 2025
• Roadster X+ 9.1 kWh – Navratri 2025

Financial Snapshot – Q1 FY26

Ola Electric also reported its Q1 FY26 earnings, highlighting a narrower loss compared to previous quarters.

Key numbers:

• Revenue: ₹828 crore (down 49.6% YoY) vs ₹1,644 crore in Q1 FY25
• Net Loss: ₹428 crore vs ₹347 crore in Q1 FY25 and ₹870 crore in Q4 FY25

This shows improvement in losses, but revenue pressure continues.

Biggest Monthly Gain Since Listing

If Ola Electric sustains its rally through August, the stock could post its biggest monthly gain since debuting on the exchanges in August 2024.

However, despite the sharp recovery, the stock still trades at:

• 33% below IPO price of ₹76
• 62% down from its all-time high of ₹157

This gap highlights the volatility Ola Electric has faced, but the recent momentum signals a shift in sentiment.

Summary

• Ola Electric shares surged 5.3% to ₹51.15 on PLI certification news.
• Both Gen 2 and Gen 3 scooters are now PLI-certified, making the company eligible for incentives until 2028.
• The company launched new models including the Roadster X+ with advanced battery technology.
• Q1 FY26 saw revenue at ₹828 crore with a net loss of ₹428 crore, showing sequential improvement.
• Stock is up 23% in August, eyeing its biggest monthly gain since listing, though still below IPO and ATH levels.