Ola Electric Shares Continue To Rally, Zoom 10% To INR 55.10

Continuing a strong momentum seen over the last few sessions, shares of EV maker Ola Electric surged 9.7% during the early trading hours on the BSE today.

The stock gave up some of the gains but ended the session 7.99% higher at INR 54.86 on the BSE. The company’s market capitalisation stood at INR 24,197.81 Cr (about $2.7 Bn) at the end of the trading today.

Ola Electric has been on an upward trend over the last few sessions due to improvement in its financial performance, plans to integrate its battery cells into its EVs, announcement of the launch of a new escooter, and it receiving PLI certification for its Gen 3 scooter portfolio.

On the financial front, the Bhavish Aggarwal-led company’s net loss in Q1 FY26 declined 51% on a sequential basis to INR 428 Cr. Operating revenue also grew about 36% QoQ to INR 828 Cr.

The company’s stock has risen nearly 18% since its Q1 disclosures on July 14. Following the results, HSBC raised its price target for Ola Electric to INR 49 from INR 45 but maintained its “Hold” rating. The brokerage remained cautious due to uncertainties around government incentives for battery manufacturing and stiffening competition.

While the stock has jumped nearly 33% since August 18, it is down about 36% year to date. Persistent losses, inspections from government authorities, complaints from customers, and correction in the broader Indian market have kept the stock under pressure.

The company has taken measures to cut its costs, including layoffs and has also diversified its offerings by entering the ebike segment to ramp up its revenue.

However, the rising competition in the electric two-wheeler (E2W) segment has also resulted in Ola Electric seeing a decline in its market share.

According to Vahan data, Ola Electric is at the third spot in terms of two-wheeler registrations in August so far. The company’s registrations currently stand at 14,488, with a 17.07% market share, behind TVS Motor and Ather Energy.