Ola Electric Mobility's shares are currently trading at Rs. 138.96, reflecting a slight decline of 0.90%, or 1.24 points, from its previous close of Rs. 137.72 on the BSE. The stock opened at Rs. 142.16, reaching a peak of Rs. 143.80 and dipping to a low of Rs. 135.26 during the day. A total of 4.27 million shares were exchanged in the market.

The company’s stock, listed under BSE group 'B', with a face value of Rs. 10, hit its 52-week high of Rs. 157.53 on August 20, 2024, and its 52-week low of Rs. 75.99 on August 9, 2024. Over the past week, the stock ranged between Rs. 157.53 and Rs. 117.00, with the company's current market capitalization standing at Rs. 60,423.96 crore. Promoters hold a dominant 70.65% stake, while 29.35% is with non-institutional investors.

In a significant development, Ola Electric's popular S1 X scooters, available in 3 kWh and 4 kWh variants, have received certification under the Production Linked Incentive (PLI) scheme for the automobile sector. This certification confirms that the scooters have met the stringent localization requirement of 50% set by the Ministry of Heavy Industries. As a result, Ola Electric has become the only two-wheeler and dedicated EV manufacturer to secure this certification for four of its products: S1 Air, S1 Pro, and S1 X (3 kWh and 4 kWh).

The certification process was overseen by The Automotive Research Association of India (ARAI), which rigorously tested the products and verified the localization of components. This makes Ola Electric eligible for PLI scheme incentives for up to five financial years starting from Fiscal 2024, with the incentive rates ranging between 13% and 18% of the products' determined sales value.

Additionally, Ola Electric was awarded 20 GWh of battery storage capacity under the PLI scheme for Advanced Chemistry Cell (ACC) batteries in March 2022. This incentive applies to the company's upcoming Ola Gigafactory in Krishnagiri, Tamil Nadu, and will span five years from the date of its commissioning.

Ola Electric continues to be a leader in the electric vehicle industry, focusing on the production of electric scooters, battery components, and other essential EV parts at its cutting-edge Ola Futurefactory.