Shares of Ola Electric Mobility Ltd surged nearly 13% on January 31, trading at ₹75.45, up ₹8.66 from the previous close of ₹66.79. The stock witnessed a day range between ₹67.62 and ₹75.35, with a market capitalization of ₹314.45 billion. This rally comes as the company gained significant market share in January and launched its Gen 3 S1 electric scooters.
Ola Electric’s market share increased to 30% in January, up from 19% the previous month, according to VAHAN data. This jump follows strategic discounts offered on the S1 model last quarter and strong demand. The Gen 3 launch, featuring a redesigned battery pack, improved torque output, and software enhancements, has bolstered investor sentiment, signaling further expansion and product efficiency.
The stock, which had been down 57% from its post-listing peak of ₹157, is now recovering and trading near its IPO price of ₹76. The strong participation in today’s session, with a trading volume of 28.35 million shares, reflects renewed investor confidence. Analysts remain divided, with four having a “buy” rating, two suggesting “hold,” and two recommending a “sell.”
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
