Just one day ago, Ola Electric unveiled eight new escooters in the mass and premium segments, all built on the cutting-edge Gen 3 platform. The company’s market capitalisation currently stands at INR 33,967.80 Cr. Shares of the EV manufacturer were up roughly 3% at INR 77.01 from its last close of INR 74.79.
During intraday trading on the BSE today (February 1), shares of Ola Electric, an electric car manufacturer led by Bhavish Aggarwal, jumped by almost 8% to INR 80.75 per share.
In comparison to its last closing of INR 74.79 on January 31 on the BSE, the stock surrendered some gains to trade 3% higher at INR 77.01 as of 01:09 PM.
At now, the EV manufacturer’s market capitalisation is INR 33,967.80 Cr.
Nevertheless, the stock ended the day slightly lower, down 0.68% to INR 74.28 per share on the BSE.
This follows Ola Electric’s announcement of eight new e-scooters in the mainstream and luxury markets, all built on the cutting-edge Gen 3 platform, which the company claims would expand range by 20%, lower prices by 11%, and boost peak power by 20%.
The stock increased 14.43% in early trading to INR 76.50 per share on the BSE yesterday as a result of its portfolio expansion.
The electric mobility startup also began manufacturing its “Roadster” electric bike earlier this month. The bike was first introduced in August of last year.
In her Union Budget 2025 speech today, Finance Minister Nirmala Sitharaman declared that cobalt powder, lithium-ion battery trash, LEDs, zinc, and other essential minerals would not be subject to Basic Customs Duty (BCD).
Notably, the stock fell to an all-time low of INR 64.68 per share on the BSE earlier this week, prolonging losses for the sixth straight session.
The electric mobility startup received an administrative warning from markets regulator SEBI earlier in January for violating disclosure laws by posting significant details about its intended store network expansion on social media before first alerting the exchanges.
