Ola Electric Mobility has achieved another significant milestone with its mass-market scooters S1 X 3 kWh and S1 X 4 kWh receiving Certification for Compliance with the eligibility assessment requirements as per the Production Linked Incentive (PLI) Scheme for the automobile and auto components. Both the S1 X 3 kWh and S1 X 4 kWh scooters have successfully met the stringent minimum localization criteria of 50%, as mandated by the Ministry of Heavy Industries. With this, Ola Electric has become the only 2W and pure-play EV manufacturer to receive the certification for compliance with the eligibility assessment requirements (PLI certificate) for four products - S1 Air, S1 Pro, S1 X (3 kWh, and 4 kWh). The company had earlier received the certificate for S1 Air at the Auto PLI Conclave organised in January 2024. The certification has been granted by The Automotive Research Association of India (ARAI) after testing of the product and checks on the localisation of the components. Under the scheme, Ola Electric is eligible for incentives for up to five consecutive financial years, commencing from Fiscal 2024. The incentive would range between 13% and 18% of the 'determined sales value' (DSV) of the products. Ola Electric has also been awarded 20GWh capacity by the government under its PLI scheme for Advanced Chemistry Cell (ACC) Battery storage in March 2022. The company is eligible to receive incentives under the Cell PLI scheme over a five-year period from the date of commissioning of the Ola Gigafactory in Krishnagiri, Tamil Nadu. Powered by Capital Market - Live

Revenue from operations jumped 32.26% to Rs 1,644 crore in Q1 FY25 as compared with Rs 1,243 crore in Q1 FY24. The firm reported loss before exceptional items and tax of Rs 347 crore during the quarter as compared with loss before exceptional items and tax of Rs 265 crore posed in corresponding quarter last year. The company posted adjusted gross margin of Rs 377 crore for the quarter ended 30th June 2024. The quarter witnessed the highest ever deliveries of vehicles by the company at 1,25,198 units as against 70,575 units delivered in the same period last year. The company said that its automotive segment (E2W) posted a strong improvement in EBITDA margin and is close to EBITDA breakeven. Automotive segment EBITDA margin for the quarter was (1.97)%, up 632 bps YoY from the (8.29)% EBITDA margin for the quarter ended 30th June 2023. The company announced the integration of its cells in its own vehicles by Q1 FY26. The increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimizations. These benefits of scale are further amplified by the company's scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products. Meanwhile, the company entered into electric motorcycle segment by launching Roadster, Roadster X and Roadster Pro. The counter entered into the stock market on 9 August 2024, the scrip listed at Rs 75.99, exhibiting a marginal discount to the issue price of Rs 76. Ola Electric Mobility is a leading electric vehicle (EV) manufacturer in India, specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The scrip surged 16.40% to Rs 128.78 on the BSE.Powered by Capital Market - Live

Securities in F&O ban:Aarti Industries, Aditya Birla Capital, Aditya Birla Fashion & Retail, Bandhan Bank, Biocon, Birlasoft, Chambal Fertilizers& Chemicals, Granules India , India Cements, India Mart Intermesh, LIC Housing Finance, Manappuram Finance, NMDC, Piramal Enterprises, PNB, RBL Bank, SAIL, Sun TV. Stocks to watch: Glenmark Pharmaceuticals' consolidated net profit jumped 96.53% to Rs 340 crore in Q1 FY25 as compared with Rs 173 crore in Q1 FY24. Revenue increased 6.85% YoY to Rs 3,244 crore during the quarter. Ola Electric Mobility reported consolidated net loss of Rs 347 crore in Q1 FY25 as compared with net loss of Rs 267 crore in Q1 FY24. Revenue jumped 32% YoY to Rs 1644 crore in Q1FY25. Entero Healthcare Solutions' consolidated net profit surged to Rs 20.5 crore in Q1 FY25 from Rs 6.4 crore in Q1 FY24. Revenue increased 22.02% YoY to Rs 1,097 crore during the quarter. Spicejet's consolidated net profit declined 19.8% to Rs 158 crore during the quarter as compared with Rs 197 crore posted in corresponding quarter last year. Revenue fell 15% to Rs 1,708 crore in Q1 FY25. Sunteck Realty reported consolidated net profit of Rs 23 crore in Q1 FY25 as compared with net loss of Rs 7 crore in Q1 FY24. Revenue soared to Rs 316 crore in Q1 FY25 as compared with Rs 71 crore in same quarter last year. Max India's board approved raising up to Rs 250 crore through multiple instruments. Power Mech Projects's received Rs 114 crore order from Coastal Energen for operation and maintenance of 1,200 MW coal based thermal power plant namely Mutiara Thermal Power Plant, owned by Coastal Energen. Paras Defence and Space Technologies's received Rs 305 crore order from L&T for the electro-optics system. Jindal Stainless has announced the commissioning of its nickel pig iron smelter facility located in an industrial park in Indonesia.Powered by Capital Market - Live

Net Loss of Ola Electric Mobility reported to Rs 347.00 crore in the quarter ended June 2024 as against net loss of Rs 267.00 crore during the previous quarter ended June 2023. Sales rose 32.26% to Rs 1644.00 crore in the quarter ended June 2024 as against Rs 1243.00 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1644.001243.00 32 OPM %-12.47-17.54 - PBDT-198.00-218.00 9 PBT-324.00-265.00 -22 NP-347.00-267.00 -30 Powered by Capital Market - Live

Ola Electric Mobility will hold a meeting of the Board of Directors of the Company on 14 August 2024.Powered by Capital Market - Live

The scrip was listed at Rs 75.99, exhibiting a marginal discount to the issue price. So far, the stock has hit a high of 84.14 and a low of 75.99. On the BSE, over 131.45 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Ola Electric Mobility received 1,98,79,03,905 bids for shares as against 46,51,59,451 shares on offer. The issue was subscribed 4.27 times. The Qualified Institutional Buyers (QIBs) category was subscribed 5.31 times. The Retail Individual Investors (RIIs) category was subscribed 3.92 times. The Non Institutional Investors (NIIs) category was subscribed 2.40 times. The issue opened for bidding on 2 August 2024 and it closed on 6 August 2024. The price band of the IPO was fixed at Rs 72 to 76 per share. The IPO comprised fresh issue of equity shares worth up to Rs 5,500 crore and an offer for sale of 8,49,41,997 equity shares, aggregating up to Rs 645.56 crore, by the existing shareholders. The objectives of the fresh issue include Rs 1,227.64 crore for capital expenditure by subsidiary, Rs 800 crore for debt repayment or pre-payment, Rs 1,600 crore for R&D development, Rs 350 crore for organic growth initiatives, and the remaining funds for general corporate purposes. The promoters and promoter group hold an aggregate 45.14% of the pre-offer issued and paid-up equity share capital. The post-IPO shareholding is expected to be around 36.78%. Ahead of the IPO, Ola Electric Mobility on Thursday, 1 August 2024, raised Rs 2,763.03 crore from anchor investors. The board allotted 36.36 lakh shares at Rs 76 each to 84 anchor investors. Ola Electric Mobility is a manufacturer of electric vehicles (EVs) and certain core components for EVs such as battery packs, motors, and vehicle frames at the Ola Future factory. Ola Electric Mobility operates its own direct-to-customer (D2C) omnichannel distribution network across India. It comprises 870 experience centres and 431 service centres (of which 429 service centres are located within experience centres) as of March 31, 2024, in addition to the Ola Electric website. The firm reported a net loss of Rs 1,584.40 crore and sales of Rs 5,009.83 crore for the twelve months ended on 31 March 2024. Powered by Capital Market - Live