Ola Electric shares surge 13%: What is behind today's rally?
What's the story
Ola Electric's shares witnessed a massive spike of 13% in today's trading session, hitting a price of ₹61.2 per share. The stock has been on a strong upswing for nearly two weeks, surging more than 45% between August 18 and September 1. The sharp rally followed upbeat management commentary on recovering market share, along with government approval under the Production Linked Incentive (PLI) scheme for its top-selling Gen 3 scooter lineup.
Growth plan
Aggressive EV targets set for 2-wheeler market
As per Bhavish Aggarwal, Ola Electric's founder and CEO, the company is aiming for a 25-30% share of India's two-wheeler EV market. The target will be achieved through vertical integration and new product launches. Another driver of Ola's recent surge is its push into in-house battery manufacturing, which is expected to reduce dependence on rare earth metals. The company's rollout of faster-charging technology has further strengthened its position, giving it an edge in India's increasingly competitive EV market.
Financial overview
Ola Electric's recent financials show a mixed bag of revenues
Ola Electric Mobility's recent financials show a mixed bag of quarterly revenues and net losses. In June 2025, the company's sales stood at ₹828 crore with an additional income of ₹68 crore, bringing the total income to ₹896 crore. However, the total expenditure was higher at ₹1,230 crore leading to an EBIT (Earnings Before Interest and Tax) loss of ₹334 crore for the quarter.