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Ola Electric Mobility Ltd, Bikaji Foods International Ltd, Pearl Global Industries Ltd and Olectra Greentech Ltd are among the other gainers in the BSE's 'A' group today, 23 September 2026.
Elecon Engineering Company Ltd surged 10.13% to Rs 463 at 11:45 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 8.59 lakh shares were traded on the counter so far as against the average daily volumes of 39447 shares in the past one month.
Ola Electric Mobility Ltd soared 10.11% to Rs 41.6. The stock was the second biggest gainer in 'A' group. On the BSE, 189.61 lakh shares were traded on the counter so far as against the average daily volumes of 48.74 lakh shares in the past one month.
Bikaji Foods International Ltd spiked 7.75% to Rs 595.95. The stock was the third biggest gainer in 'A' group. On the BSE, 45697 shares were traded on the counter so far as against the average daily volumes of 43041 shares in the past one month.
Pearl Global Industries Ltd jumped 5.91% to Rs 1265.15. The stock was the fourth biggest gainer in 'A' group. On the BSE, 12119 shares were traded on the counter so far as against the average daily volumes of 36141 shares in the past one month.
Olectra Greentech Ltd gained 5.74% to Rs 1286.15. The stock was the fifth biggest gainer in 'A' group. On the BSE, 72232 shares were traded on the counter so far as against the average daily volumes of 25191 shares in the past one month.
Offering further details, the company said that the funds would be raised through the issue of equity shares or securities that can be converted into or exchanged for equity shares.
The fundraise could be carried out through one or more permitted routes, including a further public offer, rights issue, qualified institutions placement (QIP), private placement, or other permissible methods.
Ola Electric Mobility is an electric vehicle manufacturer with vertically integrated capabilities across EVs, battery cells and related technologies. The company operates its manufacturing facility in Tamil Nadu and a battery innovation centre in Bengaluru focused on cell and battery technology.
The company had reported a net loss of Rs 336 crore in Q1 FY27, compared with a net loss of Rs 426 crore in Q1 FY26. Revenue from operations declined 45.0% year-on-year (YoY) to Rs 455 crore in Q1 FY27 as against Rs 828 crore in Q1 FY26.
The scrip shed 0.37% to currently trade at Rs 38.09 on the BSE.
Ola Electric Mobility today announced the launch of the all-new S1Z, the first scooter range in India to bring the company's indigenously developed Bharat Cell LFP technology to the mass market. The S1Z brings Ola's indigenous 46 series LFP cell platform technology, developed at its Battery Innovation Centre and manufactured at the Ola Gigafactory, to its most accessible scooter range, for the country's largest EV buying segment.
The S1Z has been designed around a simple belief that customers in the value segment should never have to compromise on technology, safety or performance. With the introduction of indigenous LFP chemistry, Ola is redefining expectations of what an accessible electric scooter can offer while advancing its vision of building India's EV ecosystem from the cell upwards.
Available in 3.1 kWh and 5.1 kWh variants, at an introductory pricing of ₹79,999 and ₹99,999 (ex showroom), respectively, the S1Z demonstrates how Ola's vertically integrated EV ecosystem is translating into tangible customer value. The 3.1 kWh and 5.1 kWh variants can deliver a range of up to 179 kms and 301 kms respectively (IDC).
By developing and manufacturing its Bharat Cell LFP technology in-house, Ola Electric has been able to significantly lower battery costs—the single largest cost component of an electric vehicle, making next generation battery technology accessible at mass-market price points. The S1Z is the first proof of this strategy, bringing safer, longer-lasting LFP chemistry to millions of Indian riders without compromising on affordability.
The S1Z will be offered in four colours: White, Anthracite, Sky Splash Blue and Matcha Green and rides on 12-inch wheels across all variants. Deliveries of the 3.1 kWh variant are scheduled to begin in December 2026, while the 5.1 kWh variant will commence deliveries from March 2027.
Ola Electric unveiled an ambitious expansion of its Shakti energy storage portfolio-designed to store energy when it is available and deploy it when it is needed-from keeping a home powered through an outage to managing renewable energy at grid scale. Built around indigenous LFP battery technology and the company's vertically integrated cell-to system capabilities, Ola Shakti creates a single architecture across three markets: home energy with Shakti Gen2, commercial and infrastructure energy with Shakti Rack, and industrial and utility-scale energy with Mahashakti.
“The use cases of our world-class battery and cell technology will manifest beyond electric mobility,” said Bhavish Aggarwal, Chairman and Managing Director, Ola Electric. “Ola Shakti extends that innovation across every scale-from the home to the grid-helping India store and use clean energy intelligently. It is the natural next step as we leverage our Gigafactory, indigenous LFP cells, and nationwide network to deliver reliable, affordable energy storage without incremental capital intensity.”
Ola Electric Mobility today announced that the Ministry of Heavy Industries (MHI), Government of India, has approved revised timelines under the ACC Production Linked Incentive Scheme for Ola Cell Technologies (OCT), its wholly owned subsidiary.
The MHI revision is much more than a timeline extension. The approval secures a full five year PLI window through CY2031 for Ola Electric's 20 GWh allocation and unlocks up to Rs 7,240 crore in cumulative PLI incentives.
Disbursements will be made quarterly, beginning next quarter, creating a recurring incentive stream as Ola Electric scales its cell business.
Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with a further 3.5 GWh under installation. The company will reach 6 GWh by the end of the current quarter, achieving the initial installed-capacity milestone well ahead of the revised December 2026 timeline. The MHI decision has effectively extended the original timelines by two years.
Lithium cells are becoming a foundational technology across electric mobility, energy storage, drones, robotics and next-generation industrial systems. Building these capabilities in India will strengthen the country's energy security and technology independence while creating a globally competitive domestic battery ecosystem.
Ola Electric is building a multi-chemistry cell platform spanning NMC and LFP technologies, supported by indigenous R&D, increased localisation of battery materials, improved manufacturing yield, and closed-loop material recovery.
Revenue from operations declined 45.0% year-on-year (YoY) to Rs 455 crore in Q1 FY27 as against Rs 828 crore in Q1 FY26.
Gross profit stood at Rs 139 crore in Q1 FY27 as against Rs 214 crore in Q1 FY26. Gross margin stood at 30.5% in Q1 FY27 as against 25.8% in Q1 FY26.
Operating expenses declined 35.0% YoY to Rs 333 crore in Q1 FY27 as against Rs 512 crore in Q1 FY26, while operating EBITDA loss narrowed to Rs 165 crore as against Rs 237 crore.
In the automotive segment, revenue from operations declined 44.9% YoY to Rs 455 crore in Q1 FY27 as against Rs 826 crore in Q1 FY26. Gross margin improved to 30.5% from 25.6%, while operating EBITDA loss widened to Rs 112 crore from Rs 96 crore.
The automotive segment’s net loss narrowed to Rs 233 crore in Q1 FY27 as against Rs 261 crore in Q1 FY26. Cash flow from operations stood at a negative Rs 120 crore as against a negative Rs 86 crore, while free cash flow stood at a negative Rs 123 crore as against a negative Rs 166 crore.
The cell segment reported revenue from operations of Rs 5 crore in Q1 FY27 as against Rs 3 crore in Q1 FY26. Gross margin stood at 20% as against 65.2% in the corresponding quarter last year.
The cell business reported operating EBITDA of Rs 28 crore in Q1 FY27 as against a loss of Rs 43 crore in Q1 FY26. Adjusted operating EBITDA stood at Rs 22 crore as against a loss of Rs 44 crore. The segment’s net loss narrowed to Rs 28 crore in Q1 FY27 as against Rs 69 crore in Q1 FY26.
Ola Electric said Q1 FY27 marked a strong scale-up in its automotive business, supported by improving demand momentum. Orders increased to approximately 44,000 units, while deliveries rose to around 39,200 units. Automotive revenue from operations stood at approximately Rs 455 crore, while gross profit stood at Rs 139 crore during the quarter.
Despite a challenging commodity environment, the company maintained a gross margin of 30.5%, which it said reflected the strength of its product economics. Commodity costs increased around 11% during the quarter, driven by higher copper and aluminium prices, lithium supply constraints in China and elevated plastics and polymer costs following crude oil supply disruptions.
Ola Electric said it continued to execute cost optimisation initiatives, with consolidated operating expenses declining 22% quarter-on-quarter to Rs 333 crore. The company remains focused on achieving a lower steady-state operating cost base of around Rs 300 crore per quarter.
The company expects operating leverage and continued cost efficiencies to support further improvement in adjusted operating EBITDA margins as monthly deliveries scale towards its previously communicated operating breakeven range.
During the quarter, Ola Electric completed a Rs 780 crore Qualified Institutional Placement (QIP), which was oversubscribed by 56% amid strong institutional demand. The company said the capital raised will strengthen its balance sheet and provide additional financial flexibility to support disciplined growth.
Ola Electric also received a one-time benefit to its cost base from PLI-related levies, supported by a favourable government stance towards its cell business. The company said the development reinforces the strategic importance of domestic cell manufacturing and aligns with the government’s broader focus on localisation, self-reliance and building an indigenous battery ecosystem.
The scrip shed 0.92% to end at Rs 41.07 on the BSE.