Why Ola Electric Shares Are Rising Fast: Key Reasons Behind the Spike

Shares of Ola Electric rose for a second straight session on Thursday, April 2, gaining nearly 25 percent over two trading sessions. The stock hit a high of ₹28.55 on the National Stock Exchange and rose as much as 10.10 percent in intraday trade amid a surge in volumes.

The stock saw strong buying interest after the company reported improved sales performance. It said daily orders in the last week of March crossed 1,000 units, while registrations rose to 10,117 units from 3,973 units in February, marking over 150 percent month on month growth. The company also reported a V shaped recovery in market share during the period.

"This demand recovery is being driven by a structural transformation in service operations. Over 80% of vehicles are now serviced on the same day, enabled by improved parts availability, faster diagnostics, and tighter operational control across the network. Following a period of service challenges in recent months, the company has implemented deep operational changes, resulting in significantly improved turnaround times and customer experience, strengthening customer trust and driving demand," Ola Electric said.

The company said it crossed one million cumulative registrations in March, becoming the first EV brand in India to achieve the milestone, according to VAHAN data.

In a separate regulatory filing, Ola Electric said it has reduced the price of its flagship electric motorcycle, the 4680 Bharat Cell powered Roadster X+ 9.1 kWh.

Ola Electric has reduced price of Roadster 9.1 kWh by ₹60,000 to 1,29,999 from ₹1,89,999,

"As cell production has ramped up, cost efficiencies have improved materially, allowing Ola Electric to pass on these benefits directly to customers. The Roadster 9.1 kWh will now be priced at ₹1,29,999, down from ₹1,89,999, and would be available in limited units only during specific purchase windows," the company said.

"Ola Electric will transition from open sales of Roadster X+ 9.1 kWh to a limited purchase window model, with vehicles made available in specific time-bound slots and limited quantities. The first purchase window will open on Friday, April 3, from 6:00 PM to 9:00 PM, with subsequent windows to be announced periodically based on production availability. The Roadster 9.1 kWh, Ola Electric’s highest-performance electric motorcycle offering a range of up to 500 km, has witnessed overwhelming demand, far exceeding current supply capacity," the company said.

Trading activity remained high. Volume on the NSE rose 2.3 times to 24.10 crore shares compared to an average of 10.40 crore shares. On the Bombay Stock Exchange, 1.51 crore shares were traded against a two week average of 71 lakh shares.

At 11:42 am, Ola Electric shares were trading 7.88 percent higher at ₹27.93, outperforming the NIFTY50 index, which was down nearly 2 percent.