Ola Electric shares ride 5% on bourses; here's what is driving the rally

Shares of Bhavish Aggarwal-led electric vehicle player Ola Electric Mobility continued their upward momentum on the bourses for yet another session, rising 4.64 per cent to hit an intraday high of ₹57.95 per share on the NSE on Friday, October 17.

 

At 10:17 AM on Friday, Ola Electric shares were trading at ₹57.25 per share, up 3.38 per cent from the previous close of ₹55.38 per share. A combined total of nearly 175.62 million equity shares of Ola Electric, worth ₹105.74 crore, were exchanged on the BSE and NSE today.

 

Earlier, on Thursday, October 16, the stock had hit the upper circuit of 5 per cent following the announcement of the launch of Ola शक्ति, its first residential Battery Energy Storage System (BESS).

 

 

“Taking the company beyond the automotive domain, Ola शक्ति represents a fundamental shift in how Indians access, control, and consume energy — as a portable, on-demand resource designed for modern Indian households, farms, and businesses,” said Ola Electric in a release.

 

With its entry into the BESS market, the company expects its annual consumption for BESS to scale up to 5 GWh in the next couple of years.

 

The launch of Ola शक्ति represents the first step in the company’s vision for India’s energy storage market, which will scale from residential applications to grid-scale deployments — all anchored by the same 4680 Bharat Cell technology platform and produced at the Ola Gigafactory.

 

The Ola शक्ति systems were launched in 1.5 kWh, 3 kWh, 5.2 kWh, and 9.1 kWh battery configurations, priced at ₹29,999, ₹55,999, ₹1,19,999, and ₹1,59,999, respectively, for the first 10,000 units.

Ola Electric share price history

Ola Electric shares made their stock market debut on August 9 last year, listing at ₹76, the same as the IPO issue price. The stock surged to an all-time high of ₹102.50 per share on December 4, 2025, while it slipped to its 52-week low of ₹39.60 per share on the NSE on July 14, 2025.

 

Ola Electric shares, however, have recovered since then and are currently trading about 46 per cent above their 52-week low.