Ola Electric Mobility: Ola’s dream run continues

Investors in the IPO must be laughing hard as shares of the pure electric vehicle maker rose by almost 75 percent from their IPO price of 76 rupees.

According to HSBC Global Research, despite its conservative assessment of electric vehicle adoption in India and other uncertainties, the global advisory firm believes Ola is still worth investing in.

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Focus on Ola Electric Mobility’s performance

Ola Electric Mobility recently reported operating revenue of Rs 1,644 crore for the first quarter — up 32.3 percent from Rs 1,243 crore in the corresponding quarter last year. However, the consolidated loss widened to Rs 347 crore (Rs 267 crore). On a sequential basis, however, the net loss narrowed from Rs 416 crore.

The June quarter was a “good quarter” in terms of growth and profitability, Aggarwal said in a conference call after the results were announced.

Ola Electric Mobility in focus: Ola Electric recently launched e-bikes and announces rapid foray into retail

Ola Electric recently launched three electric motorcycles and announced the integration of its battery cells into its vehicles.

The electric motorcycle portfolio ‘The Roadster Series’ comprises three bikes – Roadster X, Roadster and Roadster Pro. The introductory price of the e-bikes starts at ₹74,999.

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Shares of Ola Electric Mobility rose 9.54% on the NSE to trade at ₹145.77 at 11 am.

Stock market update: Sensex and Nifty open higher

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Ola Electric Mobility: Mcap in focus

The total market valuation of the company was Rs 64,565.73 crore.

Ola Electric Mobility shares in focus: Shares are trading in the upper range

Ola Electric Mobility shares hit the top spot on the NSE and BSE. The shares were trading at ₹146.38 on the NSE, up 9.99%.

On the BSE, the stock rose 10% to trade at ₹ 146.03 at 10:05 am.