Why have Ola Electric shares risen 31% in 1 month?

Shares of Ola Electric saw a rise of nearly 31% in August, reportedly marking the best monthly performance since its listing last year. This surge comes after the firm received Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. This certification makes Ola eligible for incentives ranging from 13% to 18% of the determined sales value until 2028.