Ola Electric Mobility continued its rally for the third trading session, with its share price surging by 8.26%, to ₹55.08 on Thursday. The stock hit an intraday high of ₹55.75. This surge comes as a minor relief despite the benchmark indices continuing to see a downtick. Sensex was trading at 80,550.80, down by 220 points, while Nifty 50 was under the 24,700-mark by 0.22%. 

The uptick in the Bhavish Aggarwal-led company comes after an announcement by the two-wheeler maker of securing a Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, which came in the after-market hours of Monday, August 26. As per the exchange filing, the certification includes all seven Ola S1 Gen 3 scooters, as well as the Gen 2 and Gen 3 scooter portfolio. 

The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028. The exchange filing stated that this certification would enhance Ola Electric’s profitability from Q2 FY26 onwards. 

“This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. 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,” the document stated. 

During its annual ‘Sankalp’ event, the company also announced S1 Pro Sport with 5.2 kWh and 4 kWh, S1 Pro+ 5.2 kWh, and Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell, starting at an introductory price of ₹1,49,999, ₹1,69,999 and ₹1,89,999, respectively. S1 Pro Sport deliveries are set to commence in January 2026, while deliveries of S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh start this Navratri.

Ola Electric’s share price saw a 52-week high of ₹132.70 on August 26 and a 52-week low of ₹39.60 on July 14 of this year. As for its Q1FY2026 performance, the company showed a consolidated net loss of ₹428 crore for the said quarter, bringing it down from ₹870 crore in Q4FY25, but was higher YoY at ₹347 crore in Q1FY25.

Revenue, however, fell sharply to ₹828 crore, marking a near 50% decline YoY from ₹1,644 crore in Q1FY25.