Ola Electric Shares Surge 10% on Market Debut Amid Expansion Plans

Ola Electric Mobility Ltd, led by Bhavish Aggarwal, saw its shares jump 10% on Monday, hitting the upper circuit limit. Since its August 9 market debut at an issue price of Rs 76, the stock has risen 92.14%. The company's market valuation climbed to Rs 64,411.35 crore amid expansion in the electric motorcycle segment.

Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd jumped 10 percent to hit the upper circuit limit on Monday, reflecting strong market confidence.

The electric two-wheeler company made its market debut on August 9, and from an issue price of Rs 76, the stock has impressively surged by 92.14 percent.

On Monday, on the BSE, the stock reached Rs 146.03, its upper circuit limit, while on the NSE it climbed 9.99 percent to hit the upper circuit at Rs 146.38. This has pushed the company's market valuation to a remarkable Rs 64,411.35 crore.

Ola Electric shares had previously surged 20 percent on Friday following the announcement of the company's entry into the electric motorcycle segment with three new models, with two more in the pipeline.

Additionally, the company reported an increase in revenue from operations for the April-June quarter of 2024-25. Meanwhile, in a range-bound session, the 30-share BSE Sensex slightly declined by 12.16 points (0.02 percent) to settle at 80,424.68, hitting an intraday high of 80,724.40 and a low of 80,332.65. The NSE Nifty edged up 31.50 points (0.13 percent) to 24,572.65 in volatile trade.

(With inputs from agencies.)