Ola Electric share price target: Since its listing on August 9, Ola Electric stock has surged 92 per cent (till August 19) over its issue price of Rs 76
Industry views firm's approach as marketing tactic rather than a sustainable model
The latest jump in Ola's stock price comes after it launched a new line of motorcycles and on bets that it will lower costs by using its own batteries
Stocks to watch today, August 16, 2024: GIFT Nifty indicates a positive start for the benchmark equity indices on Friday. Here is the list of buzzing stocks to watch during today's trading session
Shares of Ola Electric Mobility were locked in the 20-per cent upper circuit at Rs 133.08, also its new high on the NSE, on Friday
The e-motorcycle launch is set to intensify competition in the world's second-largest two-wheeler market
The e-bikes, named Roadster, Roadster X, and Roadster Pro, will be available from the fourth quarter of FY25
Ola Electric CEO Bhavish Aggarwal also announced the development of Ola's next-generation battery technology, known as the 'BharatCell,' the first cell to be manufactured in India
The company further announced plans to incorporate its own cell technology into its vehicles starting from Q1 of FY26
The Bengaluru-based startup is being closely watched as a proxy for the country's factory ambitions
Genus Power Infrastructure, Shakti Pumps (India), Gallant Ispat, Suraj Estate Developers, Panacea Biotec, Suzlon and Elpro Intl among BSE Allcap index were frozen at the highest limit for the day.
Ola Electric Mobility shares have been trading higher since their listing on Friday, August 9, 2024, and have climbed 43.97 per cent so far
Since the last day of subscription on August 6, shares of Ola Electric have been trading at a discount of nearly 3-4 per cent in the grey markets, which usually suggests a negative listing
The stock had listed flat to its initial offer price at 76 rupees on the National Stock Exchange
Aggarwal, 38, added $1.4 billion to his wealth after shares of his SoftBank Group Corp.-backed Ola Electric jumped 16 per cent
The shares of Ola Electric are scheduled to be allotted today. Once the allotment is finalised, investors can check the allotment status by visiting the official website of BSE or Link Intime India
Shares of Akums Drugs and Pharmaceuticals rose over 17 per cent during their trading debut on Tuesday
The electric two-wheeler maker has already allotted 364 million shares - worth Rs 2,763 crore - to anchor investors at Rs 76 apiece, the top end of the price band
The subscription window for the Ola Electric IPO, which is available at a price band of Rs 72-76 apiece, closes on Tuesday, August 6, 2024
A GMP is the premium amount at which IPO shares are traded before they are listed on the stock exchanges. This also indicates investor sentiment towards public issues