By mid-day, about 62 crore shares had changed hands, which was higher than the 20-day average of 15.5 crore.
The rally comes after the company announced it has secured PLI (Production-Linked Incentive) certification for its Gen 3 scooter portfolio. All seven S1 Gen 3 scooters have been granted certification, Ola Electric said.
Gen 3 scooters account for 56% of the company’s overall volumes, making the approval especially important. With both Gen 2 and Gen 3 portfolios now certified, the company is eligible for incentives of 13%–18% of sales value till 2028.
Ola Electric said this development is likely to boost profitability starting this quarter.
“With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” a company spokesperson said.
In Q1FY26, Ola Electric reported a net loss, though it narrowed sequentially even as it widened year-on-year. Revenue halved from last year but improved sequentially, while gross margins expanded both YoY and QoQ.
Among six brokerages tracking the company, two rate it ‘Buy’, two ‘Sell’, and the rest ‘Neutral’. Target prices range from a high of ₹63 to a low of ₹40.
Ola Electric shares were up 9.7% at ₹55.75, having gained nearly 35% in the past month.
