Know why Ola Electric‘s share price has soared 92% in just six days. Learn about the key factors behind this surge and what experts are saying about the future of the stock.
Ola Electric Stock Skyrockets Post-Listing
Ola Electric Mobility‘s share price has seen an impressive rise since its market debut on August 9, 2024. In just six days, the stock has gained 92%, with today’s opening price at ₹139.39 per share on the NSE. It soon reached an intraday high of ₹146.38, marking a rise of 10% soon after the market opened.
Key Factors Driving Ola Electric’s Share Price Surge
Several developments are contributing to this remarkable performance. The company recently reported strong first quarter results for fiscal year 2024-25. Additionally, Ola Electric launched a new range of motorcycles in its annual resolution event.
Priced between ₹75,000 and ₹2,50,000, these new models will be available for booking with deliveries expected around Diwali 2025. The move is set to boost Ola Electric’s presence in the growing electric vehicle market.
In India, motorcycles dominate the two-wheeler market with 70-72% share. However, electric motorcycles currently account for only 1% share, presenting a significant growth opportunity for Ola Electric.
Analysts’ Insights on Ola Electric’s Future
According to Arun Kejriwal, founder of Kejriwal Research and Investment Services, the company’s recent financial performance and new product launches are likely to sustain the stock’s upward momentum. Kejriwal advises shareholders to hold onto their stocks as they could be a valuable long-term investment.
Sumeet Bagadia, Executive Director at Choice Broking, also remains optimistic. He predicts that the stock could reach ₹175 in the near future and recommends maintaining a trailing stop loss at ₹130. Bagadia suggests that new investors buy the stock at its current price and consider adding more if there is a 5-6% dip.
Investment Tips for Ola Electric Shareholders
Those currently holding Ola Electric shares are advised to maintain stop loss at ₹130 to protect profits. For new investors, this could be a favorable time to invest, if the price drops slightly then there will be an opportunity to buy more shares.
“Ola Electric’s stock surge highlights strong market confidence, driven by impressive results and strategic product launches.” – Aditya Sinha
Leave a comment