Ola Electric shares are up 40% in a month — What is driving this surge
Published on 01/09/2025 10:12 AM
Ola Electric shares are up 40% in a month — What is driving this surgeOla Electric has also reversed the sales trend seen in the first half of August, where its rival Ather Energy's sales were higher. However, as of August 28, Ola Electic had sold 15,514 units, compared to Ather's 15,457 units, according to VAHAN Data.By CNBCTV18.com September 1, 2025, 10:12:12 AM IST (Updated)2 Min ReadShares of Ola Electric Mobility Ltd. extended gains on Monday, September 1 surging as much as 7%, marking a positive start to the month of September.
The stock had risen 35% in the month of August, making it the best month for the stock since its listing in August 2024.
By the completion of the first hour of trade, about 20 crore shares of Ola Electric had already changed hands, which was higher than the 20-day average of 7 crore at this time of the day.
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.
Ola Electric has also reversed the sales trend seen in the first half of August, where its rival Ather Energy's sales were higher. However, as of August 28, Ola Electic had sold 15,514 units, compared to Ather's 15,457 units, according to VAHAN Data.
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.
Shares of Ola Electric Mobility are trading 6.8% higher on Monday at ₹57.71. The stock is now nearing its 200-Day Moving average of ₹59.37.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.First Published: Aug 28, 2025 2:04 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsOla ElectricOla Electric Mobilityshare market today