New Delhi, Aug. 29 -- Shares of Ola Electric Mobility, one of India's leading two-wheeler EV makers, surged almost 20 percent this week after the company announced that it had secured Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. The development, the company said, would strengthen margins and profitability starting this quarter. On Friday's trade alone, the stock rose 5 percent to hit an intraday high of Rs.57.50.

Ola Electric informed exchanges on Monday, post-market hours, that it had received certification for compliance with eligibility assessment requirements under the PLI Scheme for the automobile and auto components sector. The certification covers all seven models of the company's Gen 3 S1 scoot...