Shares of Ola Electric Mobility extended their rally for the second consecutive session, rising over 7% in intraday trade today after a sharp 10% gain in the previous session, as investors reacted to strong business updates and a strategic price cut announcement.
The stock was trading at ₹27.74, up 7.15%, after hitting an intraday high of ₹28.13. It opened at ₹25.62 and touched a low of ₹25.06 during the session, indicating sustained buying momentum following recent developments.
The rally comes after the company reported a strong recovery in its March performance. Ola Electric said daily orders crossed 1,000 units in the last week of March, while total registrations surged to 10,117 units, marking a more than 150% month-on-month increase from 3,973 units in February. The company also highlighted a sharp V-shaped recovery in market share during the month, supported by improvements in service operations and customer experience.
The demand recovery has been attributed to operational changes implemented over recent months, including better parts availability, faster diagnostics and improved turnaround times. The company stated that over 80% of vehicles are now serviced on the same day, signalling improved service efficiency and stronger customer confidence.
Further supporting sentiment, Ola Electric on April 2 announced a significant price reduction for its flagship Roadster X+ 9.1 kWh electric motorcycle. The company cut the price by ₹60,000 to ₹1,29,999, driven by cost efficiencies achieved through scaling up production of its indigenously developed 4680 Bharat Cell.
The company said the price reduction was enabled by rapid economies of scale at its Gigafactory and deeper vertical integration, allowing it to pass on cost benefits to customers. It also introduced a limited purchase window model for the product, with the first window scheduled to open on April 3 between 6 PM and 9 PM, citing strong demand.
Ola Electric noted that demand for the Roadster has been robust, with interest surging more than five times during its recent campaign, while the product offers a range of up to 500 km, positioning it among the higher-performance electric motorcycles in the segment.
The company also highlighted its ongoing expansion of battery manufacturing capacity, with plans to scale its Gigafactory to 6 GWh, as part of its broader strategy to strengthen domestic EV and battery ecosystems.
The sharp back-to-back rally in the stock reflects investor optimism around improving demand trends, operational turnaround and cost efficiencies, alongside continued focus on scaling domestic manufacturing capabilities.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.