Ola Electric shares surged up to 20 percent, reaching an upper circuit of Rs 88.10 during afternoon trading on November 27, following the launch of its most budget-friendly electric scooters to date—the S1 and Gig series—starting at Rs 39,000. CEO Bhavish Aggarwal made the announcement on X (previously Twitter), emphasizing a standout feature of these scooters: a portable battery that can also function as a home inverter when linked with the Ola PowerPod. “Introducing the Ola S1 Z & Gig range, beginning at just Rs 39K! Affordable, accessible, and equipped with a portable battery pack,” stated Aggarwal.
But it can not be just a launch that can drag a stock(OLA-upper circuit) to such gain in a single day which has already been branded negatively by the people. There might be some insider information which has given a push or some big shark might have parked their corpus here. Whatever may be the case, it is going to come out soon. Stay connected for more updates on OLA.
Citi, an international brokerage, has started its coverage of Ola Electric with a ‘Buy’ recommendation and a target price of Rs 90, indicating a potential rise of 23 percent from the previous closing price of Rs 73. The brokerage noted that Ola’s significant 38 percent market share, broad product lineup, robust research and development, and in-house Li-ion cell production contribute positively to the company’s outlook. Anticipated releases in motorcycles and electric three-wheelers (E3Ws) are expected to boost sales volume. Although service-related challenges remain, Citi forecasts improvements as supply chains stabilize. The valuation adopts a 4x FY26 EV/Sales multiple, highlighting Ola’s dominance in a rapidly growing sector, according to Citi.
Read about the new OLA launch in detail
In the past week, Ola Electric’s shares have risen nearly 14 percent and today it rose 20% in a single day.
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