Ola Electric’s technical breakout: sign of an EV shift or short-lived hype?

Ola Electric rallies on PLI boost, new launches, and cost cuts [https://invezz.com/wp-content/uploads/2025/04/Ola-Electric.png] Ola Electric’s stock leaped as much as 13% on Monday, extending the two-week uptrend that has driven gains of over 45% since mid-August. Key triggers behind this spike include strong technical momentum: the stock performed a breakout above previous resistance, supported by high volume and a series of higher price lows. The Relative Strength Index (RSI) touched 75, signalling an overbought zone and hinting at either a pause or profit booking ahead. The underlying catalyst was regulatory: Ola’s top-selling Gen 3 scooter range received coveted Production Linked Incentive (PLI) certification, making the company eligible for government support worth 13–18% of sales until 2028. This covers the lion’s share of Ola’s scooter volume and is intended to boost both margins and profitability from Q2 FY26 onwards. Management and analysts say the improvement in cost structure could be significant, positioning Ola closer to EBITDA positivity “sooner than earlier expected”. In addition to PLI benefits, investors have reacted positively to Ola’s push into local battery manufacturing, efforts to reduce dependence on…