Ola Electric’s shares jumped more than 5% on Friday after the company said it received a ₹366.78 crore incentive from the government’s Production Linked Incentive (PLI)‑Auto scheme.
What triggered the rally?
The boost came from an exchange filing on Dec 25, the day the market was closed for Christmas. The announcement showed the government has approved a large incentive for the company’s sales target in fiscal year 2025.
How big is the incentive?
The Ministry of Heavy Industries confirmed the approval of ₹366.78 crore, to be paid through IFCI Limited, the bank that handles PLI payments. The money is linked to the company’s planned sales under the scheme, which aims to grow India’s EV manufacturing and reduce imports.
Recent share‑price trend
- Shares rose up to 5.4% intraday, reaching ₹37.28.
- They are still about 63% below the 52‑week high of ₹99.90 (Dec 2024).
- In the past five trading days the stock gained roughly 10%.
- Over the last month the share price fell more than 10%, down 15% in six months, and down 61% over the past year.
- In 2025 the stock is down about 58% so far.
Promoter share changes
Last week Ola Electric said the founder, Bhavish Agarwal, sold a small portion of his personal holdings to clear a promoter‑level loan of around ₹260 crore. After the sale, the pledged shares (3.93%) were released, leaving the promoter’s pledge at zero.
The promoter group still holds more than 34.5% of the company, one of the highest stakes among new‑age listed firms, and the transaction did not dilute his control.
Why it matters
The incentive confirms the government’s support for Ola Electric’s manufacturing plans and could help the company expand production, local sourcing, and technology development. For investors, the news provided a short‑term price lift, but the stock still faces a long‑term downtrend.
Remember, this is just an overview, not a prediction. Do your own research before making any investment decisions.