Ola Electric shares jump over 20% in two sessions; here's why

In the past two sessions, Ola Electric shares have gained more than 20 per cent. Though the counter has seen a sharp rebound in the recent sessions, it continues to trade well below the IPO level

Ola Electric shares jump over 20% in two sessions; here's why

Abhinav Ranjan New Delhi

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Ola Electric share price today: Ola Electric Mobility shares bucked the broader market weakness today, surging as much as 9 per cent in an intraday move. Building on gains from the previous session, the stock started on a flat note but soon moved northward, reaching an intraday high of ₹28.13 on the National Stock Exchange (NSE).

As of 11:20 AM, Ola Electric shares were up 7 per cent at ₹27.76. Trading activity witnessed a sharp uptick, with more than 180 million equity shares of the company changing hands on the NSE as against the previous session's total traded quantity of 240 million.

In the past two sessions, Ola Electric shares have gained more than 20 per cent.

Commenting on the recent rally, Harish Jujarey, AVP, head - technical equity research, Prithvi Finmart, said that the gains in Ola Electric are supported by improved sales numbers for the month of March. Ola Electric stock has found support around ₹22.50–23 zone following heavy losses in 2025. From a technical perspective, a sustained move above ₹26 with strong volumes is likely to provide a relief rally towards ₹30, followed by the trendline resistance near ₹33.

"However, the overall trend remains weak, as the stock continues to form a lower top–lower bottom pattern. Strong resistance is placed in the ₹33-34 zone," said the analyst.

Though the counter has seen a sharp rebound in the recent sessions, it continues to trade well below the IPO level. At CMP, the counter is down more than 60 per cent from the IPO issue price of ₹76. When compared to the peak of ₹157.40, touched on August 20, 2024, the stock is down more than 80 per cent.

The buying in Ola Electric was buoyed after the company reported a strong comeback in business performance with daily orders crossing 1,000 units in the last week of March 2026. As per VAHAN, Ola Electric's total registrations surged by more than 50 per cent on M-o-M basis to 10,117 units in the month. The same figure stood at 3,973 units in the preceding month (February 2026).

Ola Electric, in a statement, said that it witnessed a V-shaped month-on-month (M-o-M) recovery, continuing to gain market share throughout the month. The company stated that the demand recovery is being driven by a structural transformation in service operations, with over 80 per cent of vehicles now being serviced on the same day.

During March, Ola Electric said it also became the first EV brand in India to cross 1 million cumulative registrations (as per VAHAN data). ============================

Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.

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First Published: Apr 02 2026 | 11:49 AM IST