Ola Electric Share Price Surges 20% After Ola Group Announces Entry Into Electric Motorcycle Segment
Ola Electric Mobility Ltd’s shares witnessed a significant 20% surge following the announcement of Ola Group’s foray into the electric motorcycle sector. The company reported a notable increase in revenue from operations during the April-June quarter of 2024-25. On the National Stock Exchange (NSE), the stock rose by 20% to Rs 133.08, while on the Bombay Stock Exchange (BSE), it climbed over 19% to Rs 132.76.
Since its debut on the Indian Share Market on August 9, Ola Electric shares have seen a commendable 75% increase. The electric mobility company’s initial public offering (IPO) took place in early August, albeit without a remarkable debut on stock exchanges. However, the shares have been on an impressive upward trajectory ever since.
Ola Electric Mobility’s revenue from operations soared to Rs 1,644 crore in the April-June quarter of FY25 from Rs 1,243 crore in the corresponding period of the previous fiscal year. The post-earnings call revealed positive growth and profitability in the June quarter, as highlighted by chairman and CEO Bhavish Aggarwal.
The Ola Group, meanwhile, rebranded its ride-hailing service as Ola Consumer, announced a partnership with the Open Network of Digital Commerce (ONDC), and introduced an automated warehousing solution tailored for the swift demands of commerce. Further innovations are on the horizon, with plans to unveil the first domestically developed and manufactured AI, general computing, and edge chip family under the Crutrim venture by 2026.
During the annual Ola launch event, Ola founder Bhavish Aggarwal emphasized the importance of tapping into India’s motorcycle market, comprising two-thirds of the country’s two-wheeler segment. The strategic move to enter this arena aligns with the company’s vision for sustained growth and market expansion.
