Ola rallies 10% this week on PLI certification, even as market share dips

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Ola Electric‘s shares rallied nearly 10% this week, driven by announcements such as its PLI certification for its next generation of electric scooters. The stock closed at Rs 54.02 on Friday, down about 1.5%.

Factors behind the rise

PLI certification: Earlier this week, Ola Electric secured the Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. It makes the electric two-wheeler line-up eligible for several government incentives, ranging from 13% to 18% of the determined sales value of these scooters, until 2028. These…



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Ola rallies 10% this week on PLI certification, even as market share dips


Ola Electric‘s shares rallied nearly 10% this week, driven by announcements such as its PLI certification for its next generation of electric scooters. The stock closed at Rs 54.02 on Friday, down about 1.5%.

Factors behind the rise

PLI certification: Earlier this week, Ola Electric secured the Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. It makes the electric two-wheeler line-up eligible for several government incentives, ranging from 13% to 18% of the determined sales value of these scooters, until 2028. These…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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