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Extending its winning streak for the third straight day, Ola Electric Mobility, one of India’s leading two-wheeler EV manufacturers, surged another 4 percent to hit the day’s high of ₹52.80 apiece on Thursday, August 28. The rally followed the company’s announcement of securing Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. Ola Electric has been under pressure since listing, with shares still trading below their issue price of Rs 76. The company posted a net loss of Rs 428 crore in the June quarter, wider than a year earlier though narrower sequentially. Revenue halved year-on-year to Rs 828 crore, while gross margins improved.At its first annual general meeting last week, Ola Electric secured shareholder approval to reallocate IPO proceeds and extend its deployment timeline, a shift it said reflects a stronger focus on capital discipline and risk management.Over the past three sessions, the stock has gained 12 percent.However, Indian stock market showed effects of the highest US tariff on the world’s fourth largest economy, with equity benchmarks declining at the opening bell today. At 9:45 am, the S&P BSE Sensex was down over 467 points, or 0.56%, at 80,323.75 points, while the broader Nifty 50 fell 0.56% to 24,574 points. Fourteen of the 16 major sectors logged losses. The broader small-cap and midcap indices were 0.2% and 0.1%, respectively.According to analysts, markets are facing significant headwinds after the US implemented the extra 25% tariff on Indian goods over New Delhi's purchase of Russian oil, taking the total tariffs to 50%. Foreign portfolio investors have sold Indian shares worth $2.66 billion in August so far, the highest outflows since February, amid tariff concerns and a muted corporate earnings season.Trump's 25 per cent additional tariffs on Indian imports over Russian oil purchase kicked in on Wednesday, August 27, officially doubling the total India duties to 50 per cent. An existing 25 per cent tariff on goods going from India to the US was already in place.Former Reserve Bank of India governor Raghuram Rajan said Donald Trump's 50 per cent tariff against India is a big “blow” to US-India relations, describing it as a “wake-up call” for the Indian government.US President Donald Trump's doubling of tariffs on imports from India to as much as 50 per cent took effect as scheduled on Wednesday, delivering a serious blow to ties between two powerful democracies that had in recent decades become strategic partners.

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