Ola Electric shares rally 9% in 2 days after PLI nod sparks investor optimism

Shares of Ola Electric Mobility extended their rally on Thursday, climbing as much as 4% intraday to Rs 52.8 on the BSE, pushing their two-day gain to 8.7%, even as the company faces mounting competition in the electric two-wheeler market. The advance comes after the company earlier this week announced Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, a move Ola said would bolster margins and profitability starting this quarter. The certification covers all seven models of its Gen 3 range, which accounts for more than half its sales volume.