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Ola Electric shares rally 7% on PLI nod for Gen 3 scooter portfolio
Shares of Ola Electric Mobility surged as much as 6.6% on Tuesday to Rs 51.80 on the BSE after the company announced that it has secured Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, a move the company said will strengthen margins and profitability from the ongoing quarter of the current financial year.The certification, granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, covers all seven Ola S1 Gen 3 scooters. Ola Electric highlighted in its exchange filing that the Gen 3 portfolio, which includes the S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh, represents 56% of its overall volumes and forms the majority of its current sales.With this, Ola Electric’s Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The company noted that the certification makes it eligible for incentives ranging from 13% to 18% of sales value until 2028. It added that this classification is likely to significantly enhance profitability from the second quarter of FY26 onwards.A spokesperson for Ola Electric Mobility Limited said, “Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. 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.”In the June quarter, Ola Electric reported a net loss of Rs 428 crore, which narrowed on a sequential basis but widened compared with the same period last year. The company said its revenue halved to Rs 828 crore from Rs 1,644 crore a year earlier but increased sequentially. Gross margins expanded both on a year-on-year basis and compared with the previous quarter.During its annual ‘Sankalp’ event, Ola Electric also announced new product launches, including the S1 Pro Sport with 5.2 kWh and 4 kWh, the S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell. These are priced at Rs 1,49,999, Rs 1,69,999 and Rs 1,89,999 respectively. Deliveries of the S1 Pro Sport will begin in January 2026, while deliveries of the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh are set to start this Navratri.Also read | Ola Electric shares have halved in 2025. Analysts say Rs 57 within reach—should you buy?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Jakson to invest Rs 8K cr in MP solar plant
Jakson Engineers on Tuesday said it will invest over Rs 8,000 crore for setting up a 6 GW integrated solar manufacturing plant in Madhya Pradesh. This is the largest solar manufacturing investment in the state, the company said in a statement. The company, part of energy and infrastructure solutions conglomerate Jakson Group, is investing over Rs 8,000 crore to establish a 6 GW integrated solar module, cell & wafer plant at Maksi Phase II in Madhya Pradesh, the statement said. The mega project will be developed in two phases across a 110-acre site, allocated to the company recently. Commencing site activities within 15 days, the company will commission manufacturing capacity of 3 GW of solar modules and 3 GW of solar cells in Phase I, with an investment of around Rs 2,000 crore. Phase II will include establishment of a 6 GW solar wafer plant along with an additional 3 GW modules and cells each, at an investment of over Rs 6,000 crore. The first modules from the plant are expected to roll out by May 2026, followed by cells in September 2026. "This is a momentous occasion for our company and a major leap forward for India's renewable energy sector," Sundeep Gupta, Vice Chairman of Jakson Group, said. Emphasising the strategic importance of the plant, Gagan Chanana, Joint Managing Director & CEO of Jakson Solar Modules and Cells, said, "Our fully integrated facility and unique 'four-in-one' business model as a manufacturer, developer, EPC, and O&M provider aims to contribute to meeting India's energy needs and help position the country as a global solar leader. This allows us to ensure quality, cut costs, and rapidly deploy new technology, boosting our energy security and self-reliance." Madhya Pradesh was selected for this landmark project due to its strategic central location, robust infrastructure, investor-friendly ecosystem, and progressive renewable energy policies. The plant will create a positive socio-economic impact in the region by generating over 1,000 jobs during the construction phase and employing around 1,400 people once operational. Established in 1947, Jakson Group has evolved from specialising in diesel generator manufacturing to becoming a multi-faceted energy solutions provider. The company's prowess encompasses distributed energy, solar power, eco-friendly energy sources, and alternative fuels, among others. The company has an extensive presence throughout India with six manufacturing facilities, over 30 sales offices, 12 international offices and a wide network of channel partners and dealers.
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Sun Pharma shares slip 3% after BofA downgrade on premium valuations
Shares of Sun Pharmaceutical fell as much as 2.8% on Tuesday to an intraday low of Rs 1,610 on the BSE after Bank of America Securities downgraded the stock to 'underperform' from 'neutral', citing risks to premium valuations and slower-than-expected execution in speciality drugs.Bank of America Securities lowered its target price on Sun Pharma to Rs 1,570 from Rs 1,730, stating it expects consensus earnings and valuations to face pressure. “While we could continue to see the company pursuing more speciality M&A, this optionality is priced in with downside risk from disappointment in scale-up of its recently acquired (and launched) speciality assets,” the brokerage said.The research house flagged that the company's market-friendly new launches, particularly speciality drugs, have yet to fully reflect in earnings despite optimism around its psoriasis treatment, Ilumya.Speciality execution keyBofA said that while Ilumya has exceeded initial expectations, consensus estimates remain ahead of realistic reimbursement challenges and competitive landscapes for other speciality products.The brokerage noted that nearly 75% of Ilumya’s revenue comes from Medicare Part B drugs, making Sun Pharma’s earnings particularly vulnerable to pricing pressures from MFN inclusion. A 10% price reduction, it said, could dent the company’s earnings per share (EPS) by 4%.Valuation concernsThe brokerage noted that Sun Pharma trades at a forward price-to-earnings multiple of 25.5 times versus its 10-year average of 25.5 times. “We see risk to consensus earnings and premium valuations,” it said.Sun Pharma shares have fallen over 14% so far in 2025 and are down nearly 9% over the past 12 months. The stock has also declined close to 5% in the last month.From a technical standpoint, the stock is currently trading below eight of its eight key simple moving averages (SMAs), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bearish undertones in the short-term to long-term charts.Also read | YES Bank shares down 20% in 1 year. Can RBI’s nod to SMBC deal push the stock towards Rs 23?The Relative Strength Index (RSI) stands at 52.2, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at -9.4 and remains below the centre line, reinforcing the ongoing bearish trend.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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