Ola Electric Shares Surge 20% Following New Electric Motorcycle Launch

Shares of Ola Electric Mobility Ltd surged by 20% following the company’s announcement of its entry into the electric motorcycle segment with three new models. The company reported a significant jump in revenue for the April-June quarter of 2024-25, with its market valuation rising to Rs 58,558.18 crore.

Shares of Ola Electric Mobility Ltd surged 20 percent on Friday upon the announcement of its entry into the electric motorcycle segment with the launch of three models, plus two more in the pipeline. This move pushed the stock to its upper circuit limit of Rs 132.76 on the BSE.

On the NSE, the shares similarly soared to the upper circuit limit of Rs 133.08. The company's market valuation skyrocketed to Rs 58,558.18 crore. The electric two-wheeler company, led by Bhavish Aggarwal, debuted in the market on August 9, and its stock has risen nearly 75 percent from the issue price of Rs 76.

The company also announced a jump in revenue from operations for the April-June quarter of FY25, reporting Rs 1,644 crore compared to Rs 1,243 crore in the same quarter last fiscal. Chairman and CEO Bhavish Aggarwal emphasized the growth and profitability of the June quarter, while outlining future plans including AI and edge computing chips under its Krutrim venture.