Ola Electric freezes at 5% upper circuit after 24% fall from September high

Ola Electric up 5% on heavy volumes; till 12:49 PM, a combined 18.36 million equity shares changed hands and there were pending buy orders for 812,000 equity shares on the NSE and BSE.

Ola Electric Mobility share price today

 

Shares of Ola Electric Mobility were locked at the 5 per cent upper circuit at ₹56.66 on the BSE in Tuesday’s intra-day trade, with only buyers seen at the counter. 

 

Till 12:49 PM; a combined 18.36 million equity shares changed hands and there were pending buy orders for 812,000 equity shares on the NSE and BSE. In comparison, the BSE Sensex was up 0.08 per cent at 80,432.

 

Currently, Ola Electric trades under the trade-to-trade (T2T) segment. The T group is a surveillance measure that requires securities to be settled on a T2T basis. The stock moved to T2T segment with effect from September 9, 2025. 

 

 

The stock price of the India’s largest pure-play electric vehicle (EV) company had slipped 24 per cent from its September month high of ₹71.24 touched on September 4, 2025.

 

However, prior to that, between August 12 and September 4, in 15 trading days, the stock price of Ola Electric had zoomed 79 per cent. The stock hit a record low of ₹39.58 on July 14, 2025, and a 52-week high of ₹131 on August 27, 2024. 

 

Ola Electric launches festive Muhurat Mahotsav 

 

Ola Electric last week announced a festive campaign with prices of its S1 scooters and Roadster X motorcycles starting at ₹49,999 for nine days starting September 23. Under Ola Muhurat Mahotsav, the customers now stand a chance to own Ola's scooters and motorcycles daily at never-before-seen prices, the Bengaluru-based electric two-wheeler maker said in a statement.

 

Under the Muhurat Mahotsav, S1 X 2kWh and Roadster X 2.5kW will be priced at ₹49,999, and S1 Pro+ 5.2kWh, and Roadster X+ 9.1kWh will be priced at ₹99,999, it added.

 

Meanwhile, on September 24, in a separate exchange filing the company said that on the first day of its Ola Muhurat Mahotsav it witnessed an unprecedented response, with all units on offer sold out within just 5 minutes of the window opening.

 

The overwhelming demand came on the back of Ola’s recently launched festive campaign, Ola Celebrates India, which introduced never-before prices starting at ₹49,999 for its best-selling S1 scooters and Roadster X motorcycles. The Day 1 rush saw several eager customers logging in simultaneously to secure their vehicles during the limited-time Muhurat slot, the company said.  

 

FY26 Outlook

 

Ola Electric while announcing June quarter (Q1F26) earnings on July 14, said that company expects to sell between 325,000 to 375,000 vehicles and generate revenue of ₹4,200 – 4,700 crore. With Production Linked Incentive (PLI) benefit beginning from Q2 for Gen 3 product portfolio, gross margin is projected to rise to 35 per cent – 40 per cent, and the company anticipates full-year Auto EBITDA of above 5 per cent. The company also expects the auto business to remain EBITDA positive from Q2 onwards. 

 

The company’s cost optimization initiative, Project Lakshya, has driven significant operating efficiencies, reducing monthly auto opex from ₹178 crore to ₹105 crore. Consolidated opex now stands at ₹150 crore per month, and further reduction to ~₹130 crore/month is targeted through FY26. Operating cash flow for the auto business was nearly neutral in Q1, and Free cash flow improved to -₹107 crore, a significant improvement from -₹455 crore in Q4, Ola Electric said.