Ola Electric Mobility’s stock continues its impressive ascent, soaring 18% to Rs. 129.40 on August 13. This surge follows two consecutive days of hitting the 20% upper circuit limit.
Since its debut at the issue price of Rs. 76, Ola’s shares have skyrocketed by 58% in just three days. Trading volumes have also surged, with 15 crore shares changing hands this morning, up from 8 crore shares the previous day.
The stock’s rise comes ahead of Ola Electric Mobility’s Q1 earnings announcement on August 14. Led by Bhavish Aggarwal, the company will hold its first board meeting post-listing to review and approve its unaudited standalone and consolidated results for the quarter ending June 30, 2024.
In addition to the financial news, Ola Electric is set to unveil its first electric motorcycle on Independence Day. While details are still under wraps, the company had previously showcased concept models including the Diamondhead, Adventure, Roadster, and Cruiser.
In the anchor book allocation, 40% was reserved for domestic mutual funds, with the remaining 54% allocated to global investment firms. Notable domestic investors such as SBI MF, HDFC MF, and Nippon India MF received higher allotments compared to others.
As of 9:42 am, Ola Electric shares were trading at Rs. 114, reflecting a 5% increase from the previous close on the NSE.
