Ola Electric Shares Jump 9.4% Intraday On Escooters Roll Out

Shares of Ola Electric surged as high as 9.4% at INR 80.40 during intraday trading on the BSE today (November 27), a day after it unveiled electric scooters to cater to gig economy workers and cost-conscious consumers. 

The shares opened today’s trade 5.7% higher at INR 77.71 against the previous close of INR 73.47. 

At 10:28 AM, the stock was hovering at almost the same price at INR 78.90. So far for the day, the stock has traded in the price range of INR 75.20 – INR 80.40. 

As many as 60 Cr shares of Ola Electric changed hands by 10:28 AM, while the company’s market capitalisation remained at INR 34,849 Cr by then.

It is pertinent to note that Ola Electric has ended its last four trading sessions in the green. 

Since its listing on August 9 on the bourses, the company’s shares are trading 3.32% below its listing price of INR 76 on BSE. 

The stock surge follows the launch of Ola Electric’s electric scooters, S1 Z and Gig,  cater to gig economy workers and cost-conscious consumers. 

Earlier this month, Ola Electric reported its Q2 FY25 results, where it trimmed its consolidated net loss to INR 495 Cr from INR 524 Cr in the year-ago period.

However, the loss widened by 43% compared to INR 347 Cr posted in Q1 FY25, amid declining EV sales.

The company’s operating revenue rose 39% to INR 1,214 Cr in Q2 FY25 from INR 873 Cr in Q2 FY24, though it fell 26.1% quarter-on-quarter.

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