Budget 2025: Ola Electric, Amara Raja Shares Gain On Announcement For EV Battery Boost

Shares of Ola Electric Mobility Ltd., Exide Industries Ltd. and Amara Raja Batteries Ltd. rose on Saturday after the government announced a National Manufacturing Mission to support domestic manufacturing, including electric vehicle batteries, during the Union Budget 2025–26, presented by Finance Minister Nirmala Sitharaman.

Morgan Stanley had anticipated that funding for EV infrastructure will remain a priority, with an emphasis on expanding charging networks and enhancing grid capabilities.

Macquarie had highlighted the government's potential outlay for the PM E-drive and Auto PLI schemes, which are seen as key to boosting the domestic manufacturing of EVs and crucial components.

CareEdge also suggested that a uniform GST rate on batteries, regardless of technology type, alongside tax incentives such as GST reductions for hybrid vehicles, could have been on the agenda.

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